EchoStar Reports Profit of $35 Million
Satellite television service EchoStar Communications Corp. reported a third-quarter profit of $35.1 million after taking subscribers from cable services.
Net income, which amounted to 7 cents a share, contrasted with a year-earlier loss of $167.9 million, or 35 cents. Sales rose 19% to $1.45 billion, the Littleton, Colo.-based company said.
The 285,000 subscribers that the company added during the quarter were fewer than some analysts projected.
EchoStar shares fell as much as 4.9% to $35 in extended trading after the earnings were released. Earlier, the stock rose 15 cents to $36.80 on Nasdaq.
From Bloomberg News
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