Huges earnings report..................................
dailynews.yahoo.com
Third quarter revenues from DirecTV increased 33.6 percent to $459.1 million from $343.7 million a year ago, as U.S. subscribers broke the four million mark during the quarter.
Subscribers at the company's Latin American DirecTV unit, Galaxy Latin America, reached 423,000, while DirecTV Japan had a total of 181,900 subscribers by the end of the quarter.
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Hughes Cites DirecTV Operating Costs For Third Quarter Decline
Increased operating losses at DirecTV, attributed to record subscriber growth this year, were blamed for a decline in third quarter operating profit and net income at Hughes Electronics.
The company posted third quarter net income of $42.9 million, or 11 cents a share, down from $52.4 million, or 13 cents a share on a pro forma basis, in the comparable year-ago quarter. Revenues jumped more than 20 percent to $1.5 billion from $1.25 billion a year ago.
Hughes attributed part of the jump in revenue figures to strong subscriber growth at DirecTV, which broke the four million mark during the quarter. But higher sales and marketing expenditures incurred by the DBS provider were blamed for lower profits. Start-up losses for DirecTV Japan also attributed to the earnings decline. |
