EchoStar Communications Corp. [DISH] rode strong subscriber growth to reach $246 million in revenue for the second quarter ended June 30, a 149 percent increase compared with the same quarter a year ago.
Earnings before interest, taxes, depreciation and amortization (EBITDA) during the second quarter of 1998 rose to $8 million, up from $3 million for the same period last year. EchoStar trimmed its operating loss for the just-ended quarter to $16 million, compared to an operating loss of $43 million for the same quarter of 1997. The company also cut its net loss to $46 million in the past quarter, compared with $64 million for the second quarter last year.
EchoStar's DISH Network of direct broadcast service (DBS) subscribers added a net 180,000 customers during the second quarter of this year to bring its total to 1.4 million. The company also was helped during the latest quarter by a boost in net revenues from its technology and satellite services business units.
| 2Q EchoStar Results (in millions $US) | ||||
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1998 | 1997 | ||
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2Q | YTD | 2Q | YTD |
| Net Loss | $45.7 | $95.6 | $63.8 | $126.7 |
| Operating Loss | $16.2 | $37.4 | $43.0 | $87.6 |
| DBS Revenues | $155.0 | $290.2 | $75.6 | $132.3 |
| Total Revenues | $245.8 | $460.3 | $98.7 | $168.2 |
| Source: EchoStar | ||||