NEW YORK (TheStreet) - Dish Network (DISH) shares climbed 3.16% to $49 before market open on Tuesday after the satellite-TV provider blew past Wall Street's earnings forecast in its third-quarter results.
The company reported sales of $3.6 billion, up from $3.52 billion in the prior year's quarter and above analysts' prediction of $3.58 billion. Subscriber-related revenue helped boost the company's numbers, growing 6.1% year over year to $3.47 billion.
Excluding items, Dish earned 44 cents a share on net income of $315 million, compared to a loss of 35 cents a share and a net loss of $158 million in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for earnings of 44 cents a share.
The company's total pay-TV customers increased by 35,000 and Dish ended the quarter with 14.049 million pay-TV subscribers, compared to 14.042 million pay-TV subscribers at the end of the same period last year. Dish added around 75,000 net broadband subscribers during the quarter, taking its broadband subscriber base to around 385,000.The Englewood, Colo.-based firm was also one of the most active premarket Nasdaq stocks on share volume of 451,878. Over at the New York Stock Exchange, Emulex (ELX)was a major gainer, rising 6.1% to $8, boosted by its $200 million share repurchase plan that was announced late on Monday. The server component specialist also unveiled a strategy to expand its cost savings, and a number of board changes in an attempt to boost profitability and shareholder value. "The changes announced today mark important initial steps in our efforts to maximize operational efficiency while continuing our revenue growth initiatives, all as part of a strong commitment to generating incremental increases in stockholder value," said Emulex CEO Jeff Benck in a statement released after market close. Shares of Emulex, which was the subject of sale chatter earlier this year, have gained 3.29% since the start of 2013. Vodafone (VOD) was a more modest gainer before market open, rising 0.47% to $36.46 on Nasdaq share volume of 1,077,990, while Facebook (FB) shares dipped 0.43% to $46 on volume of 579,057. Symantec (SYMC) was an even bigger laggard, tumbling 3.49% to $22.40. --Written by James Rogers in New York. Follow @jamesjrogers >Contact by Email.
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