Hughes Posts Record First Quarter
[Satellite Today – 5-7-08] Hughes Network Systems Inc. reported a 6 percent increase in total revenue for the first quarter of 2008 to $237.2 million, the company announced May 7.
The VSAT segments recorded revenues of $201.4 million in the quarter, which closed March 31, up from revenues of $195.1 million in the same period a year ago. The segment posted operating income of $5.5 million, down from $9.5 million a year ago.
The Telecom Systems segment recorded revenues of $35.6 million and an operating income of $4.6 million in the quarter, compared to $27.7 million in revenue and $3.5 million in operating income in 2007.
“Hughes had a strong first quarter in 2008, setting new records for first quarter revenue; adjusted [earnings before interest, income taxes, depreciation, amortization]; and new orders,” Pradman Kaul, president and CEO of Hughes, said in a statement. “… Once again, the major contributors to revenue growth were our consumer and mobile satellite businesses.”
Hughes added more than 46,700 new customers in the quarter, bringing its total subscriber base to 401,000 at the end of March, a 16 percent gain from the end of March 2007.