Hughes Network Systems Reports Revenue, Net Income Increases

[Satellite Today – 3-3-08] Hughes Network Systems LLC posted a 15 percent increase in revenue for the fourth quarter of 2007, the company announced March 3.
    Hughes reported revenues of $279.6 million for the quarter ending Dec. 31, compared to $243.3 for the fourth quarter of 2006. The company also posted a 96 percent increase in net income in the same period from $11.2 million in 2006 to $21.9 in 2007.
    For the year, Hughes increased revenue by 13 percent, from $858.2 in 2006 to $970.1 in 2007. Net income rose by 160 percent, from $19.1 million in 2006 to $49.8 million in 2007.
    “All of the segments showed robust growth,” Pradman Kaul, president and CEO of Hughes, said in a statement. “The major revenue growth contributors were the consumer, international and the mobile satellite markets with growth rates of 13 percent, 11 percent and 77 percent respectively in 2007 over 2006.”
    The number of subscribers for the company’s consumer service improved 16 percent to 379,900 at the end of 2007.
    Hughes also reported a record $1.1 billion in orders in 2007, a growth of 30 percent over 2006.”