EchoStar swings to Q2 profit

Tue, 08/09/2011 - 8:15am
The Associated Press

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.


Share This Story

You may login with either your assigned username or your e-mail address.
The password field is case sensitive.