EchoStar Reports First Quarter 2005 Financial Results
ENGLEWOOD, Colo., May 5, 2005 -- EchoStar Communications Corporation (Nasdaq: DISH) reported that its DISH Network(tm) satellite television service added approximately 325,000 net new subscribers during the first quarter of 2005.
DISH Network had approximately 11.23 million subscribers as of March 31, 2005.
For the quarter ended March 31, 2005, EchoStar reported total revenue of $2.02 billion, a 28 percent increase compared with $1.58 billion for the corresponding period in 2004.
Net income totaled $318 million for the quarter ended March 31, 2005, compared with a net loss of $43 million during the corresponding period in 2004. Basic earnings per share was $0.70 for the quarter ended March 31, 2005, compared with a basic loss per share of $0.09 during the corresponding period in 2004. Net income for the quarter ended March 31, 2005, includes a $134 million gain related to the $240 million settlement of EchoStar IV satellite insurance and related claims. Net loss for the quarter ended March 31, 2004, included a $78 million charge related to early redemption of certain debt securities during that quarter.
Detailed financial data and other information are available in EchoStar's Form 10-Q for the quarterly period ended March 31, 2005, filed with the Securities and Exchange Commission.
About EchoStar Communications
EchoStar Communications Corporation (NASDAQ: DISH) serves more than 11.2 million satellite TV customers through its DISH NetworkÔ, and is a leading U.S. provider of advanced digital television services. DISH Network's services include hundreds of video and audio channels, Interactive TV, HDTV, sports and international programming, together with professional installation and 24-hour customer service. EchoStar has been a leader for 25 years in satellite TV equipment sales and support worldwide. EchoStar is included in the Nasdaq-100 Index (NDX) and is a Fortune 500 company. Visit EchoStar's Web site at <www.echostar.com> or call 1-800-333-DISH (3474).
EchoStar will host its First Quarter 2005 earnings conference call today at noon ET. The call will be broadcast live from EchoStar's website, www.echostar.com . The dial-in number is (800) 616-6729. To access the Webcast of this event, go to www.echostar.com , then select "Investor Relations." A replay of the conference call will not be made available.
Contacts:Investor RelationsJason Kiser, 303-723-2210jason.kiser@echostar.comorMedia RelationsSteve Caulk, 303-723-2010steve.caulk@echostar.com
