EchoStar Announces Fourth Quarter and Full Year 2016 Results


February 24, 2017


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Englewood, CO, February 24, 2017—EchoStar Corporation (NASDAQ: SATS) today announced its financial results for the fourth quarter and full year ended December 31, 2016.

Fourth Quarter 2016 Financial Highlights:
  • Consolidated revenues of $740 million.
  • Consolidated net income of $39 million.
  • Consolidated net income attributable to EchoStar common stock of $38 million and diluted earnings per share of $0.40.
  • Consolidated EBITDA of $229 million (see reconciliation of this non-GAAP measure below).
  • Approximately 1,036,000 Hughes consumer broadband subscribers as of December 31, 2016.
Full Year Ended December 31, 2016 Financial Highlights:
  • Consolidated revenue of $3.06 billion.
  • Consolidated net income of $181 million.
  • Consolidated net income attributable to EchoStar common stock of $182 million and diluted earnings per share of $1.92.
  • Consolidated EBITDA of $884 million (see reconciliation of this non-GAAP measure below).
  • Strong liquidity with cash, cash equivalents and current marketable investment securities of $3.09 billion as of December 31, 2016.
Set forth below is a table highlighting certain of EchoStar’s segment results for the three and twelve months ended December 31, 2016 and 2015:
 
 
For the Three Months
Ended December 31,
 
For the Years
Ended December 31,
 
 
2016
 
2015
 
2016
 
2015
 
 
(Dollars in thousands)
Revenue
 
 
 
 
 
 
 
 
Hughes
 
$
370,910
 
 
$
347,146
 
 
$
1,392,361
 
 
$
1,347,340
 
EchoStar Technologies Corp.
 
266,082
 
 
325,101
 
 
1,249,197
 
 
1,298,198
 
EchoStar Satellite Services
 
101,741
 
 
116,304
 
 
407,660
 
 
490,591
 
All Other & Eliminations
 
1,660
 
 
2,036
 
 
7,512
 
 
7,585
 
Total
 
$
740,393
 
 
$
790,587
 
 
$
3,056,730
 
 
$
3,143,714