Dish Network net income falls in 3rd quarter but subscriber base increasesBy AP
Monday, November 9, 2009
Dish Network 3rd-quarter profit falls
ENGLEWOOD, Colo. — Dish Network Corp. said Monday third-quarter profit fell 12 percent as its subscriber base edged up.
The second-largest satellite TV provider in the U.S. says profit totaled $81 million, down from $92 million a year ago.
Revenue for the three months ended Sept. 30 edged down nearly 2 percent to $2.89 billion from $2.94 billion last year.
Dish says it gained about 241,000 net subscribers, up nearly 2 percent to 13.9 million.
Separately, the company, in Englewood, Colo., issued a one-time dividend of $2, payable Dec. 2 to shareholders of record on Nov. 20.
Dish is widely regarded as one of the weaker players in the pay-TV industry, which encompasses cable, satellite TV and phone companies that provide TV services. Dish focuses on being the low-cost provider, but that strategy hasn’t led to growth amid cable and phone company discounts on their triple-play bundles of phone, Internet and cable TV.
In premarket trading, shares of Dish Network rose to $19.43 from Friday’s close of $19.15.
(This version REVERSES and CORRECTS the net income figures in the second paragraph.)
Tags: Cable Television, Colorado, Dividends, Englewood, North America, Satellite Television, United States