Dish Network 3rd-quarter profit falls

[November 09, 2009]  ENGLEWOOD, Colo. (AP) -- 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 $92 million, down from $81 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.

[Associated Press]

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