Updated from 10:08 a.m. EST

Dish Network

(DISH) - Get Report

came up slightly short on profit as subscribers canceled service.

The satellite TV service that was spun from


(SATS) - Get Report

earlier this year lost 102,000 net subscribers in the fourth quarter ended in December. Analysts had been looking for a slight increase in paying customers.

Heated competition from cable and phone companies like


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Time Warner Cable




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combined with a consumer spending slowdown have started to have an impact on Dish's performance in the quarter.

The Englewood, Colo., satellite shop posted earnings of $217 million or 48 cents a share, up from 37 cents in the year-ago quarter but a penny shy of analyts' targets calling for a profit of 49 cents.

Sales for the quarter were $2.92 billion, up 1% from the $2.89 billion level at the same time last year.

Dish, which split from parent


in January, serves 13.68 million customers.

The stock was down 11.6% to $9.94 in recent trading.