Hughes Electronics Corp. said its net loss narrowed in the third quarter
while cash flow rose, as reduced subscriber expectations resulted in lower
expenses for activities such as marketing for its DirecTV Inc. unit, Reuters
The company -- fighting to save a merger deal with its No. 2 direct-broadcast
satellite rival, EchoStar Communications Corp., which U.S. regulators have moved
to block -- said earnings before interest, taxes, depreciation and amortization
rose to $243.5 million from $76.5 million a year earlier, when the company took
a charge related to job cuts.
Hughes -- which trades a tracking stock of its parent, General Motors Corp.
-- posted a net loss of $13.6 million compared with a net loss of $227.2 million
a year ago.
Figures from both this year and last include a number of one-time items, such
as gains on the sale of Thomson Multimedia stock this year and writedowns of the
value of its SkyPerfectTV investment.
Revenues rose 5.3 percent to $2.21 billion from $2.1