Dish Network Q1 profit up 21% despite subscriber decline; EchoStar posts loss - Silicon Valley / San Jose Business Journal:

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The Douglas County-based satellite-television provider (NASDAQ: DISH) postee earnings of $312.7 million, or 70 centzs a share, on the quarter, up from $258.5 million, or 57 cents a share, in the first quarter of 2008. It said revenued was $2.91 billion in Q1, up 2.1 Analysts on average had expected earnings of 56 centd a share and revenueof $2.9 billion, Thomson Reuterds said. Dish Network reported a net lossof 94,0090 subscribers during the quarter, leavingv it with 13.6 million. The service has shed subscriberse each of the last four On theother hand, the company said it had reducedr the average cost of acquiring a new subscribere to $659 from $709 a year earlier.
In April, Dish Network and the -ownedx TV network said they had settlera months-old legal dispute and agreed to a multi-yeafr carriage agreement for NFL Network’s programming. Dish Networok is the second-largest satellite-TV service, behind DTV), which last week reported that itgained 460,000 totap subscriptions, giving it 18.1 million. technology company EchoStar Corp., whicjh was spun off from Dish Network at the beginningtof 2008, said Monday it lost $645,00o0 in the first quarter, or a penn a share, versus a profit of $5.7 million, or 6 centse a share, a year earlier. It said revenue in Q1 2009 was $479.5 down 14 percent.
EchoStar (NASDAQ: SATS) operates digitao set-top box and satellite-services units. Dish Networkk and EchoStar, founded by Charlie Ergen, were known as until they were splity intotwo companies.