UPDATE 1-Dish Network 2nd-qtr profit falls

lunes 10 de agosto de 2009 12:57 CEST
 

Aug 10 (Reuters) - Dish Network Corp (DISH.O: Cotización), the second largest U.S. satellite TV operator, on Monday posted a fall in quarterly profit, hurt in part by expenses tied to a litigation with TiVo Inc (TIVO.O: Cotización).

Second-quarter net profit fell to $63.4 million, or 14 cents a share, from $335.9 million, or 73 cents a share, a year ago.

Revenue was largely flat at $2.90 billion.

Analysts had on average forecast revenue of $2.91 billion, according to Reuters Estimates.

Dish Network added about 26,000 net subscribers during the quarter ended June 30, ending the quarter with about 13.610 million subscribers.

The Englewood, Colorado company, controlled by satellite entrepreneur Charlie Ergen, has been under extensive competitive pressure in recent quarters from its larger rival DirecTV Group DTV.O as well as phone and cable operators.

Its operations' previous focus on the low-income end of the pay-TV market have also been disproportionately hurt by the weak economy.

Shares of the company closed at $18.42 Friday on Nasdaq. (Reporting by S. John Tilak and Yinka Adegoke; Editing by Ratul Ray Chaudhuri)