Littleton, Colo. -- EchoStar Communications Corp. reported
last week that its earnings for the second quarter ended June 30 were up 149 percent over
the same period last year.
The company posted $246 million in revenues for the
quarter. EchoStar reported
a net loss of $46 million for the three-month period, down
from $64 million during the second quarter 1998. The company also posted an operating loss
of $16 million for the quarter, compared to $43 million for the same three months in 1997.
Premarketing cash flow was $76 million for this year's
quarter, compared to $25 million for the 1997 quarter. EBITDA (earnings before interest,
taxes, depreciation and amortization) for the quarter was up $5 million, to $8 million,
for the quarter.
In a statement, the company attributed the improved
earnings largely to the continued growth of the Dish Network subscriber base. The company
added 180,000 net subscribers during the quarter, to reach about 1.4 million by June 30.
EchoStar also derives revenue through its technology and
satellite services divisions.
Gains were even more dramatic when comparing six-month
figures. Revenues for the first six months of 1998 were $460, compared to $168 million for
the corresponding period in 1997. Operating loss for the six-month period dropped from $88
million in 1997 to $37 million this year. Net losses fell from $127 million to $96 million
from the year-earlier period.
EchoStar's stock rose by $1.50 to $24.75 in
mid-morning Nasdaq trading after its earnings were released on Thursday.