March 16, 2006 EchoStar Profit Nearly Doubles By REUTERS
http://www.nytimes.com/2006/03/16/technology/16echo.html?_r=1&oref=slogin&pagewanted=print EchoStar Communications, a satellite television broadcaster, said yesterday that its quarterly profit nearly doubled as the number of subscribers rose. EchoStar, the second-largest American satellite TV provider, which operates under the Dish Network brand, posted fourth-quarter net income of $133 million, or 30 cents a share, up from $70 million, or 15 cents a share, a year earlier. Analysts polled by Reuters Estimates had expected 35 cents a share. Despite missing Wall Street's profit target, analysts said the quarter's results were in line with expectations. EchoStar shares rose 43 cents yesterday, to $29.78. Wall Street has been awaiting any news from the company in response to speculation that it might be sold, and updates on its discussions with its rival DirecTV to create a national wireless high-speed Internet network. EchoStar gained a net 330,000 new subscribers in the quarter, ending the year with about 12.04 million. Revenue rose 12.8 percent, to $2.18 billion. In the fourth quarter, EchoStar repurchased about 3.7 percent of its outstanding shares, raising speculation that it was in the process of a "creeping privatization," said Craig Moffett, an analyst at Sanford C. Bernstein & Company. ================================ George Antunes, Political Science Dept University of Houston; Houston, TX 77204 Voice: 713-743-3923 Fax: 713-743-3927 antunes at uh dot edu Reply with a "Thank you" if you liked this post. _____________________________ MEDIANEWS mailing list [email protected] To unsubscribe send an email to: [EMAIL PROTECTED]
