EchoStar Posts Loss of $43 Million
Satellite TV giant EchoStar Communications Corp. reported a $43-million loss for the first quarter, partly because of charges associated with the early redemption of bonds.
The owner of the Dish Network lost 9 cents a share for the January-March period in contrast with a profit of $58 million, or 12 cents, for the first quarter of 2003. Revenue rose 16% to $1.58 billion.
The company said it added about 360,000 subscribers during the first three months of this year. Its Dish Network reported a total of 9.78 million subscribers.
EchoStar shares fell $2.04 to $32.25 on Nasdaq.
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