EchoStar swings to Q2 profit
ENGLEWOOD, Colo. (AP) – EchoStar Corp., which sells set-top boxes and also provides satellite services to Dish Network Corp., said Tuesday it posted an $18.5 million profit in the second quarter, reversing a year-ago loss.
EchoStar, which was spun off from Dish in January 2008, earned 21 cents per share, compared with a loss of $41.5 million, or 49 cents per share, for the 2010 quarter.
Revenue fell 3.1 percent to $584.2 million from $603 million, as sales of set-top boxes and components to Dish dropped 29 percent to $270.6 million.
Dish separately reported that its second-quarter profit rose 30 percent. But it lost 135,000 more subscribers than it added because of discounted offers from competitors.