EchoStar Reports Third Quarter 2008 Financial Results
ENGLEWOOD, CO, Nov 10, 2008 (MARKET WIRE via COMTEX News Network) -- EchoStar Corporation (NASDAQ: SATS) today reported total revenue of $616 million for the quarter ended Sept. 30, 2008, a 52.4 percent increase compared with $404 million for the corresponding period in 2007.
EchoStar reported net loss of $308 million for the quarter ended Sept. 30, 2008, compared with net loss of $7 million during the corresponding period in 2007. The $301 million increase in net loss primarily related to unrealized losses and impairments on marketable and non-marketable securities. Basic loss per share was $3.43 for the quarter ended Sept. 30, 2008, compared with a basic loss per share of $0.07 during the corresponding period in 2007.
Detailed financial data and other information are available in EchoStar's Form 10-Q for the quarterly period ended Sept. 30, 2008, filed today with the Securities and Exchange Commission.
About EchoStar Corporation
EchoStar Corporation (NASDAQ: SATS) provides equipment sales, digital broadcast operations, and satellite services that enhance today's digital TV lifestyle, including products from Sling Media, Inc., a wholly owned subsidiary. Headquartered in Englewood, Colo., EchoStar has 25 years of experience designing, developing and distributing advanced award-winning television set-top boxes and related products for pay television providers and is creating hardware and service solutions for cable, telco, IPTV and satellite TV companies worldwide. The company includes a network of 10 full-service digital broadcast centers and leased fiber optic capacity with points of presence in approximately 160 U.S. cities. EchoStar also delivers satellite services through eight owned and leased in-orbit satellites and related FCC licenses. Visit www.echostar.com.
EchoStar will host its conference call for the third quarter 2008 financial results today at 1 p.m. ET. The dial-in number is (877) 500-5931.
Contacts Press: Marc Lumpkin 303-706-5236 Email Contact Investor Relations: Jason Kiser 303-723-2210 Email Contact
SOURCE: EchoStar Corporation
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