DTVLA updates 2011 guidance due to strong results in Q1

Friday, May 6, 2011

DirecTV Latin America (DTVLA) has updated its guidance for full 2011 given its solid performance during the first quarter, company president Bruce Churchill said in a conference call with investors.

"Barring any unforeseen change in the general macroeconomic environment in Latin America, and particularly in Brazil, and barring any large swings in foreign exchange rates, again, particularly in Brazil, we now expect both full-year revenue to grow closer to 30% year-on-year versus the 20% we indicated last December," Churchill said.

"We believe these numbers are achievable in light of the continued strong growth we are seeing in sales and the continued performance on churn," he added.

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Churchill also said DTVLA now expects total net additions to be in the 1.25mn-1.5mn range, as compared to the 1mn figure that the company indicated last December.

"As a result, there will be a modest increase in the total capital expenditures of US$1bn that we had stated previously," the executive added.

The company owns 93% of Sky Brazil, 41% of Sky Mexico and 100% of PanAmericana, which covers most of the remaining countries in the region.