Satellite television provider Dish Network Corp. (DISH: Quote) posted lower second-quarter net income attributable to the company of $226 million, or $0.50 per share, from $335 million, or $0.75 per share in the prior-year quarter. On average, 24 analysts polled by Thomson Reuters expected earnings per share of $0.68 for the quarter. Analysts' estimates typically exclude one-time items.
The company said that net income was negatively impacted by $43 million, as a result of the loss of the 148-degree orbital slot license in the quarter. Additional contributors to year-on-year net profit decline included higher subscriber-related expenses from higher programming costs and increased subscriber acquisition costs associated with its 16.3 percent growth in gross subscriber additions, including increased brand advertising.
Quarterly total revenue was $3.57 billion, compared with $3.59 billion for the corresponding period in 2011. Analysts estimated revenues of $3.64 billion for the quarter.
DISH Network's net subscribers decreased by nearly 10,000 during the second quarter, and the company ended the period with some 14.061 million subscribers.
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by RTT Staff Writer
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