Last $52.04 USD
Change Today +0.34 / 0.66%
Volume 83.5K
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As of 5:10 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

echostar corp-a (SATS) Key Developments

EchoStar Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

EchoStar Corp. reported earnings results for the third quarter and nine months ended September 30, 2014. For the period, the company has posted total revenue of $896 million compared to $849 million for the corresponding period in 2013. The company results were very strong with revenue growth of 49% and EBITDA growth of 62% over third quarter of 2013, driven primarily by incremental lease revenue from the 5 satellites it acquired from DISH in the first quarter. Net income attributable to EchoStar common stock was $64.1 million and diluted earnings per share was $0.69 for the quarter ended Sept. 30, 2014, compared with net income attributable to EchoStar common stock of $4.3 million and diluted earnings per share of $0.05 during the corresponding period in 2013. Capital expenditure was $165 million compared to $107 million last year. Spending increase was primarily related to the satellite construction, of which heard it has 5 in the works. Free cash flow, which defined as EBITDA minus CapEx, was $83 million from the third quarter of 2014, an increase of $22 million or 35% over the same quarter last year, driven primarily by the strong EBITDA growth, partially offset by the higher CapEx. EBITDA was $248 million for a growth of 48% over third quarter of 2013. For the nine-month period ended Sept. 30, 2014, total revenue was $2,602 million compared to $2,474 million for the nine months ended Sept. 30, 2013. Net income attributable to EchoStar common stock was $110.5 million and diluted earnings per share was $1.19 for the nine-month period ended Sept. 30, 2014 compared to a net loss of $2.0 million and diluted loss per share of $0.02 for the corresponding period in 2013.

EchoStar Mulls Acquisitions

EchoStar Corp. (NasdaqGS:SATS) intends to pursue acquisitions. "Our strategy continues to be to expand in international markets through partnership and joint ventures with reputable and established local companies and through acquisitions. We have the best set-top box and satellite product lines in the industry, along with world-class operating platforms that will help us achieve this expansion," Mike Dugan, Chief Executive Officer, said.

EchoStar Corp. to Report Q3, 2014 Results on Nov 06, 2014

EchoStar Corp. announced that they will report Q3, 2014 results at 11:00 AM, US Eastern Standard Time on Nov 06, 2014

EchoStar Corp., Q3 2014 Earnings Call, Nov 06, 2014

EchoStar Corp., Q3 2014 Earnings Call, Nov 06, 2014

EchoStar Corp. Presents at Wells Fargo Technology, Media and Telecom Conference 2014, Nov-13-2014 10:45 AM

EchoStar Corp. Presents at Wells Fargo Technology, Media and Telecom Conference 2014, Nov-13-2014 10:45 AM. Venue: The Waldorf Astoria, 301 Park Avenue, New York, NY 10022, United States. Speakers: David J. Rayner, Chief Financial Officer, Executive Vice President and Treasurer, Deepak Dutt, VP, Treasury & IR.

 

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