EchoStar Reports Fourth Quarter and Year End 2010 Financial Results
ENGLEWOOD, CO -- (MARKET WIRE) -- 02/24/11 --
EchoStar Corporation (NASDAQ: SATS) today reported total revenue of $513 million for the quarter ended Dec. 31, 2010, an 8 percent decrease compared with $558 million for the corresponding period in 2009.
EchoStar reported net income of $169 million for the quarter ended Dec. 31, 2010, compared with a net loss of $30 million during the corresponding period in 2009. Basic earnings per share was $1.98 for the quarter ended Dec. 31, 2010, compared with basic loss per share of $0.37 during the corresponding period in 2009.
For the year ended Dec. 31, 2010, EchoStar reported total revenue of $2.35 billion compared with $1.90 billion for the year ended Dec. 31, 2009, an increase of 24 percent. EchoStar's net income for the year ended Dec. 31, 2010, totaled $204 million, compared with $365 million for the year ended Dec. 31, 2009. The basic earnings per share was $2.40 for the year ended Dec. 31, 2010, compared with basic earnings per share of $4.25 during the corresponding period in 2009.
Detailed financial data and other information are available in EchoStar's Form 10-K for the annual period ended Dec. 31, 2010, filed today with the Securities and Exchange Commission.
EchoStar will host its fourth quarter and year end 2010 financial results conference call today at 1 p.m. ET. The dial-in number is (877) 500-5931.
About EchoStar Corporation
EchoStar Corporation (NASDAQ: SATS) provides set-top box equipment, 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 more than 25 years of experience designing, developing and distributing 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. EchoStar includes a network of 10 digital broadcast centers and leased fiber optic capacity. EchoStar also delivers satellite services through 10 satellites and related FCC licenses. Visit www.echostar.com.
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Source: EchoStar Corporation
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