EchoStar Communications Corp. is beaming over its second-quarter results,
which saw net income more than triple and revenue jump 21%.
The satellite-TV provider posted net income totaling $129 million, up sharply
compared with the $37 million it collected in the same quarter of 2002. Earnings
per share came in at 27 cents, far more than analysts' predictions of 19
Revenue totaled $1.41 billion, a 21% jump versus the $1.17 billion EchoStar
collected in the year-earlier period.
Part of the reason for the sharp income increase has to do with a $34.4
million drop in subscriber-acquisition costs related to payment for previously
sold set-top-box equipment from a legal settlement.
But there was at least one hitch: EchoStar pulled in about 270,000 new
subscribers in the second quarter, down from the 350,000 new additions it netted
in the first quarter.
Dish Network now claims 8.8 million customers.