Dish Network 2007 Annual Report Download - page 45

Table of Contents
For the Years Ended December 31,
Statements of Operations Data 2006 2005 2004 2003 2002
(In thousands, except per share data)
Revenue:
Subscriber
-
related revenue
$
9,375,519
$
7,986,394
$
6,692,949
$
5,419,733
$
4,439,726
Equipment sales
362,098
367,968
364,929
285,551
338,602
Other
80,869
92,813
100,593
34,012
42,497
Total revenue
9,818,486
8,447,175
7,158,471
5,739,296
4,820,825
Costs and Expenses:
Subscriber related expenses (exclusive of depreciation
shown below)
4,807,872
4,095,986
3,618,259
2,738,821
2,222,593
Satellite and transmission expenses (exclusive of
depreciation shown below)
147,450
134,545
112,239
79,322
62,131
Cost of sales
–
equipment
282,420
271,697
259,058
161,724
204,655
Cost of sales
–
other
7,260
23,339
33,265
3,496
6,466
Subscriber acquisition costs
1,596,303
1,492,581
1,527,886
1,312,068
1,168,649
General and administrative
551,547
456,206
398,898
336,267
331,194
TiVo litigation expense
93,969
—
—
—
—
Depreciation and amortization
1,114,294
805,573
505,561
400,050
373,619
Total costs and expenses
8,601,115
7,279,927
6,455,166
5,031,748
4,369,307
Operating income (loss)
$
1,217,371
$
1,167,248
$
703,305
$
707,548
$
451,518
Net income (loss)
$
608,272
$
1,514,540
(3)
$
214,769
$
224,506
$
(852,034
)(1)
Basic net income (loss) available to common
stockholders
$
608,272
$
1,514,540
$
214,769
$
224,506
$
(414,601
)(2)
Diluted net income (loss) available to common
stockholders
$
618,106
$
1,560,688
(3)
$
214,769
$
224,506
$
(414,601
)(2)
Basic weighted
-
average common shares outstanding
444,743
452,118
464,053
483,098
480,429
Diluted weighted
-
average common shares outstanding
452,685
484,131
467,598
488,314
480,429
Basic net income (loss) per share
$
1.37
$
3.35
$
0.46
$
0.46
$
(0.86
)
Diluted net income (loss) per share
$
1.37
$
3.22
$
0.46
$
0.46
$
(0.86
)
Cash dividend per common share
$
—
$
—
$
1.00
$
—
$
—
As of December 31,
Balance Sheet Data 2006 2005 2004 2003 2002
(In thousands)
Cash, cash equivalents and marketable investment
securities
$
3,032,570
$
1,181,360
$
1,155,633
$
3,972,974
$
2,686,995
Restricted cash and marketable investment securities
172,941
67,120
57,552
19,974
9,972
Cash reserved for satellite insurance
—
—
—
176,843
151,372
Total assets
9,768,696
7,410,210
6,029,277
7,585,018
6,260,585
Long
-
term obligations (including current portion)
6,967,321
5,935,301
5,791,561
6,937,673
5,747,053
Total stockholders
’
equity (deficit)
(219,383
)
(866,624
)
(2,078,212
)
(1,032,524
)
(1,176,022
)
For the Years Ended December 31,
Other Data 2006 2005 2004 2003 2002
DISH Network subscribers, as of period end (in
millions)
13.105
12.040
10.905
9.425
8.180
DISH Network subscriber additions, gross (in
millions)
3.516
3.397
3.441
2.894
2.764
DISH Network subscriber additions, net (in millions)
1.065
1.135
1.480
1.245
1.350
Average monthly subscriber churn rate
1.64
%
1.65
%
1.62
%
1.57
%
1.59
%
Average monthly revenue per subscriber (
“
ARPU
”
)
$
62.47
$
58.04
$
55.00
$
51.30
$
49.48
Average subscriber acquisition costs per subscriber
(
“
SAC
”
)
$
686
$
693
$
611
$
491
$
523
Net cash flows from (in thousands):
Operating activities
$
2,279,242
$
1,774,074
$
1,001,442
$
575,581
$
66,744
Investing activities
$
(1,993,953
)
$
(1,460,342
)
$
1,078,281
$
(1,761,870
)
$
(682,387
)
Financing activities
$
1,022,147
$
(402,623
)
$
(2,666,022
)
$
994,070
$
420,832
(1)
Net loss in 2002 includes $689.8 million related to merger termination costs.
(2) The net loss to common stockholders in 2002 of $414.6 million differs significantly from the net loss in 2002 of $852.0 million due to a
gain on repurchase of Series D Convertible Preferred Stock of approximately $437.4 million.