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EchoStar profit dips in Q2

Thu, 08/10/2006 - 7:14am
Jeff Baumgartner, CED

EchoStar Communications said Q2 revenues rose 17 percent to $2.46 billion, but that increase could not offset smaller year-over-year profits.

EchoStar posted Q2 net income of $169 million (38 cents per share), versus $856 million ($1.89) a year ago, citing a non-recurring, non-cash benefit of $593 million for the recognition of tax benefits of previously reported tax losses.

During the quarter, EchoStar added 195,000 net new subs, extending its total to 12.46 million. The company signed on 225,000 net new subs in the year-ago period.

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