SOURCE: EchoStar Corporation

EchoStar Corporation

March 01, 2010 06:05 ET

EchoStar Reports Fourth Quarter 2009 Financial Results

ENGLEWOOD, CO--(Marketwire - March 1, 2010) - EchoStar Corporation (NASDAQ: SATS) today reported total revenue of $558 million for the quarter ended Dec. 31, 2009, a 12 percent increase compared with $496 million for the corresponding period in 2008. EchoStar reported a net loss of $30 million for the quarter ended Dec. 31, 2009, compared with a net loss of $704 million during the corresponding period in 2008. The diluted loss per share was $0.37 for the quarter ended Dec. 31, 2009, compared with $7.89 during the corresponding period in 2008. 

For the year ended Dec. 31, 2009, EchoStar reported total revenue of $1.904 billion compared with $2.151 billion for the year ended Dec. 31, 2008, a decrease of 12 percent. EchoStar's net income for the year ended Dec. 31, 2009, totaled $365 million, compared with a $958 million loss for the year ended Dec. 31, 2008. The diluted earnings per share was $4.24 for the year ended Dec. 31, 2009, compared with diluted loss per share of $10.73 during the corresponding period in 2008.

Detailed financial data and other information are available in EchoStar's Form 10-K for the annual period ended Dec. 31, 2009, 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 digital broadcast centers. EchoStar also delivers satellite services through 10 owned and leased in-orbit satellites and related FCC licenses. Visit www.echostar.com.

EchoStar will host its Fourth Quarter and year end 2009 financial results conference call today at 1 p.m. ET. The dial-in number is (877) 500-5931.

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