ENGLEWOOD, Colo.--(BUSINESS WIRE)-- DISH Network Corporation (NASDAQ: DISH) today reported revenue totaling $3.52 billion for the quarter ended Sept. 30, 2012 compared with $3.60 billion for the corresponding period in 2011.
Net loss attributable to DISH Network totaled $158 million for the quarter ending Sept. 30, 2012, compared with the $319 million in net income from the same period last year. DISH's recent settlement of the Voom litigation negatively impacted net income by $453 million, adjusted for an estimated tax rate of approximately 38 percent.
Except for this one-time event, DISH's third quarter net income would have totaled $295 million, an 8 percent decline versus third quarter 2011 net income of $319 million.
Additional contributors to year-over-year net income decline included higher subscriber-related expenses from higher programming costs and increased subscriber acquisition costs associated with our 12.7 percent increase in gross subscriber additions.
Diluted loss per share was $0.35 for the third quarter, compared with diluted earnings per share of $0.71 during the same period in 2011. DISH Network's net subscribers decreased by approximately 19,000 during the third quarter compared to a net subscriber loss of about 111,000 subscribers a year prior. The company ended third quarter with approximately 14.042 million subscribers.
Since the Voom settlement didn't occur until October what caused the $453 million impact which they say was due to the Voom litigation? Did they decided to write off some amount on the 3rd quarter books or was this just due to loss of customers due to the AMC networks loss and the money spent on Roku boxes and Amazon subscriptions?