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Dish Drops After Earnings Miss

Revenue, though, tops estimates.

Dish Network

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lost ground Tuesday after the company fell short of analysts' estimates for the fourth quarter.

The Englewood, Colo., satellite-television provider said fourth-quarter earnings increased to $175 million, or 39 cents a share, up from $153 million, or 35 cents a share, in the same quarter a year ago. Revenue in the quarter rose to $2.89 billion, a 12% advance from a year earlier.

However, analysts expected the company, formerly known as EchoStar Communications, to post earnings of 45 cents a share on revenue of $2.85 billion. With the shortfall on the bottom line, Dish was down $1.13, or 3.7%, to $29.53.

The company said it added roughly 85,000 net new subscribers during the fourth quarter. Dish ended 2007 with 13.78 million subscribers, an increase of 5.1% over the year.