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DirecTV posts narrower 1Q loss on revenue

DirecTV Group Inc., the nation’s largest direct broadcast satellite provider, said Monday that first-quarter losses narrowed significantly from last year, due to fewer charges and higher revenue at DirecTV U.S.

Losses narrowed to $41.4 million, or 3 cents per share, from $638.8 million, or 46 cents per share, a year ago.

The 2004 period included charges of $479 million related to the sale of PanAmSat, $311 million from a change in accounting for subscriber acquisition, upgrade and retention costs, and $63 million for the early retirement of PanAmSat’s backup satellite due to a failure in its power system.

This entry was posted on Thursday, May 5th, 2005 at 10:10 am and is filed under General, Satellite TV, Directv. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.