EchoStar reports strong 3Q returns

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EchoStar Communications Corp. today reported total revenue of approximately $1 billion for the quarter ended Sept. 30, 2001, a 46 percent increase compared to $698 million for the corresponding period in 2000.

Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $155 million, an improvement of $181 million compared to negative $26 million for the corresponding period in 2000. The EBITDA improvement resulted primarily from increased operational efficiencies, increased subscribers and the continued positive impact of DISH Network's Digital Home Plan offerings.

EchoStar also posted positive operating and net income for the quarter. EchoStar's operating income for the quarter ended Sept. 30, 2001, was $75 million, an improvement of $157 million compared to an operating loss of $82 million reported during the corresponding period in 2000.

The Company's net income totaled $3 million for the third quarter of 2001, an improvement of $145 million compared to a net loss of $142 million during the third quarter of 2000. Results for the quarter ended Sept. 30, 2000, have been adjusted to retroactively reflect the equity method accounting related to EchoStar's additional equity investment in StarBand Communications Inc. during September 2001.

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