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 $3.09 billion as of December 31, 2016.
Set forth below is a table highlighting certain of EchoStar’s segment results for the three and twelve months ended December 31, 2016 and 2015:
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For the Three Months
Ended December 31,
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For the Years
Ended December 31,
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2016
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2015
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2016
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2015
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(Dollars in thousands)
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Revenue
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Hughes
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$
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370,910
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$
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347,146
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$
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1,392,361
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$
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1,347,340
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EchoStar Technologies Corp.
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266,082
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325,101
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|
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1,249,197
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1,298,198
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EchoStar Satellite Services
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101,741
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|
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116,304
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|
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407,660
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|
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490,591
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All Other & Eliminations
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1,660
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2,036
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7,512
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|
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7,585
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Total
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$
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740,393
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$
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790,587
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$
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3,056,730
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$
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