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Dish Network 2Q profit falls on climbing costs

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[August 10, 2009]  NEW YORK (AP) -- Dish Network says its second-quarter profit slid 81 percent on Tivo litigation costs and rising expenses, but the nation's second-largest satellite TV provider managed to add subscribers and maintain revenue.

The Englewood, Colo.-based company earned $63.4 million, or 14 cents per share, for the period ended June 30. That's down from $335.9 million, or 73 cents per share, last year.

Revenue dipped 0.3 percent to $2.90 billion.

Analysts forecast profit of 67 cents per share on revenue of $2.91 billion.

Total costs and expenses rose to $2.64 billion.

Dish Network Corp., widely viewed as one of the weaker players in the pay-TV industry, says it added about 26,000 net subscribers -- its first quarterly increase in five quarters.

[Associated Press]

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.




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