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Analysts Slam DN After Quarterly Report
SkyRERPORT
Wall Street didn't go easy on DN Monday after the DBS provider announced that it had lost more than 100,000 subscribers in the fourth quarter of 2008.
Collins Stewart analyst Tom Eagan said that DN's disappointing results "highlight the company's inability to both add customers as well as maintain their existing subscribers." Eagan went on to criticize DN, highlighting the fact that DaveTV added more than 300,000 subscribers in the fourth quarter while its competition went in the other direction.
Bernstein Research analyst Craig Moffett said that the most striking number to come out of DN's quarterly report on Monday wasn't the 102,000 subscribers lost but instead the fact that the company's revenue growth is now down to one percent. This time last year DN was growing at an 11 percent pace. And, given that the fourth quarter was the last one with AT&T as a DN distributor, Moffett said he wouldn't be surprised if the company loses another 100,000 subscribers in the first quarter. Yikes.
SkyRERPORT
Wall Street didn't go easy on DN Monday after the DBS provider announced that it had lost more than 100,000 subscribers in the fourth quarter of 2008.
Collins Stewart analyst Tom Eagan said that DN's disappointing results "highlight the company's inability to both add customers as well as maintain their existing subscribers." Eagan went on to criticize DN, highlighting the fact that DaveTV added more than 300,000 subscribers in the fourth quarter while its competition went in the other direction.
Bernstein Research analyst Craig Moffett said that the most striking number to come out of DN's quarterly report on Monday wasn't the 102,000 subscribers lost but instead the fact that the company's revenue growth is now down to one percent. This time last year DN was growing at an 11 percent pace. And, given that the fourth quarter was the last one with AT&T as a DN distributor, Moffett said he wouldn't be surprised if the company loses another 100,000 subscribers in the first quarter. Yikes.
