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Earnings Roundup / Dish Network

Higher fees lift net income 24%

March 03, 2009|Times Wire Reports

Dish Network Corp. said its fourth-quarter profit rose 24% on the back of higher prices and fees, but the nation's second-largest satellite-TV provider lost more than 100,000 subscribers and its results missed Wall Street forecasts.

Dish said its position was eroded by discounting at rival cable and phone companies, according to a Securities and Exchange Commission filing.

The Englewood, Colo., company earned $217 million, or 48 cents a share, up from $175 million, or 39 cents, a year earlier. Sales rose 1% to $2.92 billion.

Analysts polled by Thomson Reuters expected profit of 49 cents a share on sales of $2.96 billion.

In the quarter, Dish says it lost 102,000 net subscribers. It ended the year with 13.68 million subscribers, down 1% compared with the end of 2007.

Shares of Dish fell $1.32 to $9.93.

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