EchoStar Posts Higher Revenue But Lower Income in 3Q
Englewood, Colo., Nov. 12, 2013 ― Satellite operations and video delivery solutions provider EchoStar Corp. reported higher revenues for the quarter ended September 30, 2013 but higher expenses caused a drop in its net income for the period.
EchoStar said it posted total revenue of $849 million for the quarter compared to $765 million for the corresponding period in 2012. Net income attributable to EchoStar shareholders was $4.3 million and diluted earnings per share was $0.05 for the quarter ended, compared with net income attributable to EchoStar shareholders of $22.6 million and diluted earnings per share of $0.26 during the corresponding period in 2012.
Five analysts polled by Thomson Reuters expected the company to report loss per share of $0.08 for the quarter.
EchoStar also said its HughesNet consumer broadband service added 72,000 net subscribers during the quarter, bringing the total to 807,000 subscribers. Reports indicate the performance far outpaced rival ViaSat Inc.’s similar broadband service.
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