Hughes Communications Reports 1Q

HCI

HCI

Thread Starter
SatelliteGuys Pro
Jun 19, 2005
2,580
1
land of the ice and snow
http://www.skyreport.com/#Story3

This week, Hughes Communications released first quarter results, its first reporting of financials as a publicly-traded company.

First quarter revenues for Hughes wholly-owned subsidiary HNS were $196.8 million, representing an increase of $18.6 million when compared to revenues of $178.2 million recorded during the same period in 2005. Net income improved by $14.6 million to $194,000 during the first quarter, when compared to a loss of $14.4 million for the same period last year.

Said Grant Barber, Hughes' chief financial officer, "We are pleased with the solid operating results posted in this quarter. In addition, our successful closing of $450 million of senior unsecured notes in early April, allowed us to retire our bank debt of $325 million." He added, "We are confident that, due to these actions, we now have a strong balance sheet with the resources available for us to pursue appropriate strategic initiatives, including Spaceway."
 
SCOOTERZ56

SCOOTERZ56

Member
Mar 19, 2005
10
0
Florida
Well, I've been doing work for Hughes since 1988 and I'm still waiting on my first raise.

You can take it to the bank that you will never see a increase in pay from HNS.:(
 

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