EchoStar First Quarter 2017 Results

ENGLEWOOD, Colo., May 10, 2017 /PRNewswire/ — EchoStar Corporation (NASDAQ: SATS) today announced its financial results for the quarter ended March 31, 2017.

First Quarter 2017 Financial Highlights:

— Consolidated revenues of $433 million.
— Consolidated net income from continuing operations of $31 million
— Consolidated net income attributable to EchoStar common stock of $39 million and diluted earnings per share of $0.41.
— Consolidated EBITDA of $183 million (see reconciliation of this non-GAAP measure below).
— Approximately 1,043,000 Hughes consumer broadband subscribers as of March 31, 2017.
— Cash, cash equivalents and current marketable investment securities of $3.18 billion as of March 31, 2017

In the current quarter we changed the way we present our segments. Historically our business segments reflected an allocation of the costs of our corporate functions. Under our new presentation, these costs are no longer allocated to the operating segments and are now reported as part of the Corporate and Other segment (previously “All Other and Eliminations”).

In addition, results of our EchoStar Technology segment, which was transferred to DISH Network Corporation in the Share Exchange transaction, are included in Discontinued Operations.

EchoStar Corporation (NASDAQ: SATS) is a premier global provider of satellite communications solutions. Headquartered in Englewood, Colo., and conducting business around the globe, EchoStar is a pioneer in secure communications technologies through its Hughes Network Systems and EchoStar Satellite Services business segments.

SOURCE EchoStar Corporation

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top