EchoStar Posts Loss of $168 Million
EchoStar Communications Corp., the No. 2 satellite television service, reported a third-quarter loss on higher costs to attract customers.
EchoStar’s net loss was $167.9 million, or 35 cents a share, contrasted with net income of $3.1 million, or 1 cent, a year earlier. Sales rose 20% to $1.22 billion from $1.02 billion, the Littleton, Colo., company said.
EchoStar, whose bid to acquire rival DirecTV from El Segundo-based Hughes Electronics Corp. was blocked by federal regulators, added 320,000 subscribers for its Dish Network service, ending the quarter with 7.78 million. To lure customers, EchoStar had to offer promotions on the equipment needed to gets its Dish Network service.
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