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:
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|
For the Three Months
Ended December 31,
|
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For the Years
Ended December 31,
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|
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2016
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2015
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2016
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2015
|
|
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(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
|
|
|
$
|
|