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EchoStar DISH Network Boasts 33% Q3 Revenue Rise

10/23/2001 11:50:00 AM Eastern

Littleton, Colo. - Bolstered by about a 33 percent increase in revenue for its broadcast satellite DISH Network system, EchoStar Communications reported a 46 percent increase in total company revenue for the third quarter.

Revenue for the DISH Network was $924.6 million for the three months, compared with $617.3 million in the year-ago period. Total EchoStar revenue was $1.02 billion in the third quarter ending Sept. 30, compared with $698 million in the same three months in 2000.

The DISH Network added about 360,000 net new subscribers in the third quarter. At the end of the three months DISH reported 6.43 million subscribers, a 35 percent increase over the 4.77 million subscribers on board as of Sept. 30, 2000.

For the third quarter, EchoStar earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $155.2 million, compared with a negative figure of $26 million in the same three months last year.

The company's net income for the three months totaled $3.1 million, compared with a net loss of $142.3 million in the year-ago third quarter.

For the nine months, total DISH Network revenue hit $2.61 billion, compared with $1.65 billion in the same period in 2000. Total EchoStar revenue reached $2.85 billion, up from $1.91 billion in the year-ago nine months.

For the nine months, EBITDA totaled $340.1 million, compared with a negative $145.1 million in the same period last year.

EchoStar reduced its net loss for the nine months to $172.6 million, compared with a net loss of $466.1 million in the year-ago nine months.

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