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EchoStar Narrows Q4 Loss

2/28/2002 07:43:00 AM Eastern

Littleton, Colo. - Satellite television provider EchoStar significantly narrowed its loss for the fourth quarter, hitting $42.9 million, down from $184.2 million in the year-ago period.

At the same time, the company reported total revenue of $1.2 billion, a 43 percent increase over the $805.4 million recorded in the same three months in 2000.

As a result of increased subscribers and expansion of its DISH Network's Digital Home Plan offerings, EchoStar recorded earnings before interest, taxes, depreciation and amortization (EBITDA) of $171.1 million in the fourth quarter ended Dec. 31. This compares with a negative EBITDA of $42.2 million in the same three months the previous year.

Operating income for the fourth quarter reached $88.1 million, compared with a loss of $113.7 million year over year.

For the 12 months, EchoStar reported total revenue of $4 billion, up from $2.7 billion the previous year. The net loss for the 12 months was reduced to $215.5 million, down from $650.3 million in the same period in 2000.

EBITDA for the 12 months came in at $511.1 million, compared with negative EBITDA of $187.2 million in the year-ago period.

Operating income for the year totaled $212.3 million, up from a loss of $424,1 million in 2000.