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Echostar Reports Fourth Quarter 2005 Financial Results
Echostar Communications Corp. reported total revenue of $2.18 billion for the quarter ended Dec. 31, 2005, a 12.8 percent increase from the $1.93 billion for the corresponding period in 2004. Net income totaled $133 million for the quarter ended Dec. 31, 2005, compared with $70 million during the corresponding period in 2004. Basic earnings per share were $.30 for the quarter ended Dec. 31, 2005, compared with basic earnings per share of $.15 during the corresponding period in 2004.
For the year ended Dec. 31, 2005, Echostar reported total revenue of $8.43 billion compared with $7.15 billion for the year ended Dec. 31, 2004, an increase of 17.8 percent. Echostar’s net income for the year ended Dec. 31, 2005, totaled $1.51 billion, compared with $215 million for the year ended Dec. 31, 2004. Net income for the year ended Dec. 31, 2005, includes a non-recurring, non-cash benefit of approximately $593 million to recognize the tax benefits of previously reported tax losses and a $134 million gain related to the settlement of Echostar 4 satellite insurance and related claims.
Dish Network added approximately 330,000 net new subscribers during the quarter ended Dec. 31, 2005, giving the company approximately 12.04 million subscribers as of that date, an increase of 1.135 million subscribers compared to the number of subscribers as of Dec. 31, 2004.
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