EchoStar Records Net Loss For 1Q04, Nets 360,000 New Subs
EchoStar Communications [DISH] officials today reported the company cut its net loss, boosted the total number of Dish Network subscribers and increased its revenues during first-quarter 2004.
As of March 31, EchoStar reported it had approximately 9.785 million subscribers, which includes a net addition of 360,000 subscribers during the quarter.
EchoStar reported total revenues of $1.58 billion, up 16 percent from the $1.36 billion earned during the same period one year ago. For the quarter, EchoStar recorded a net loss of $43 million, compared to net income of $58 million in the first quarter of 2003. The loss during the just-completed first quarter includes a $78 million charge associated with the early redemption of the company’s 9 3/8-percent senior notes due 2009, which occurred during the quarter. For in-depth coverage of this story, see the May 10 issue of Satellite News.
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