[Satellite TODAY Insider 03-07-11] Hughes Communications posted a sharp increase in 2010 fourth-quarter net income at $16.9 million, compared with $2.4 million in 2009, driven by a 40 percent net increase in its subscriber additions from the same period last year, the company announced in its financial results, issued March 3.
     The company’s revenue intake also climbed 7 percent to $281.5 million from $262.2 million last year, with subscriber turnover rate remaining steady at about 2.3 percent. For the year, Hughes’ earnings were $22.8 million, a turnaround from a $52.7 million loss in 2009. Revenues increased 3 percent from $1.01 billion in 2009 to $1.04 billion in 2010.
     In a statement, Hughes CEO Pradman Kaul said the company benefited from the momentum it generated in its 2010 third quarter, especially with subscriber rates. “The highlight of the fourth quarter was the standout performance by our consumer business. We activated nearly 59,000 new subscribers in the fourth quarter, an all-time quarterly record for us.”
    Raymond James Analyst Chris Quilty told Satellite TODAY Insider that the company outperformed analysts’ expectations in certain categories. “ Hughes’ revenue intake was in-line with projections, but the company’s record adjusted EBITDA of $71 million was 6 percent more than consensus, while net subscriber additions exceeded our estimates by 12.5 percent. During the quarter, Hughes activated nearly 59,000 new subs, increased ARPU by $3 year-over-year and ended the impressive year with a non-consumer backlog of $1.1 billion,” Quilty said.
    In February, EchoStar Corp. announced that it would acquire Hughes for about $1.34 billion ($2 billion including debt). The acquisition is expected to close this year.