[Satellite TODAY 11-05-10] DirecTV reported double-digit revenue growth for the fourth consecutive quarter, with 2010 third quarter revenues improving 10 percent to $6.03 billion compared to the same period in 2009, the company announced Nov. 4.
    The U.S. pay-TV operator’s net income increased 31 percent to $479 million and diluted earnings-per-share grew 49 percent to $0.55. Operating profits were up 27 percent to $868 million compared to the third quarter of 2009. The company said operating profit increases were associated with higher revenues and partially offset by an increase in subscriber acquisition costs related to higher gross additions at both its U.S. and Latin America divisions and demand for advanced equipment at DirecTV U.S.
    According to DirecTV CEO Mike White, the subscriber addition costs were worthwhile as HD, DVR and interactive services drove the operator’s growth. “Gross and net subscriber additions increased in both our U.S. and Latin American businesses for the first time in two-and-a-half years and as a result, we widened our leading position as the world’s largest provider of pay TV services with over 27 million subscribers.”
    Operating profit also was benefited from a reduction in set-top box capital expenditures over the last several years, White said.
The company also made progress toward its balance sheet during the quarter, issuing $3 billion in senior notes and repaying its remaining secured debt of $1.2 billion. A $1.37 billion repurchase of its stock during the quarter brought its total year-to-date repurchases to $3.6 billion. DirecTV also received a $39 million non-cash benefit from a tax settlement.