Dish Network posts profit, but subscribers drop

Mon, 03/02/2009 - 7:45am
Mike Robuck

Dish Network released its fourth-quarter results today that included a fourth-quarter profit of 24 percent, but on the downside, the satellite provider said it lost approximately 102,000 net subscribers.

In its filing with the Securities and Exchange Commission, Dish attributed the loss in subscribers to more aggressive promotions from competitors such as cable operators, the rise of over-the-top Internet video providers and the downturn in the economy.

The number of net subscribers lost for the full year, ended Dec. 31, was also approximately 102,000, giving the company 13.68 million subscribers at year-end.

Dish’s net income for the quarter was $217 million, or 48 cents per share, compared with $175 million, or 39 cents per share, in the same quarter a year ago.

Dish’s total revenue was $2.92 billion, which was a 1 percent increase compared with the $2.89 billion for the fourth quarter of 2007.

For the full year, Dish’s revenue increased 5 percent to $11.62 billion. The company brought in $902.9 million, or $1.98 per share, for the year, compared with $756.1 million, or $1.68 per share, in 2007.

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