EchoStar Announces Financial Results for the Three and Twelve Months Ended December 31, 2021

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[{"type":"text","content":"ENGLEWOOD, Colo., Feb. 24, 2022 /PRNewswire/ -- EchoStar Corporation (NASDAQ: SATS) today announced its financial results for the three and twelve months ended December 31, 2021.\n\n \n \n \n \n \n \n\n \nThree Months Ended December 31, 2021 Financial Highlights:\nConsolidated revenue of $498.6 million. Net loss of $80.1 million, consolidated net loss attributable to EchoStar common stock of $76.3 million, and basic and diluted loss per share of $0.88.Consolidated Adjusted EBITDA of $159.5 million (see discussion and the reconciliation of GAAP to this non-GAAP measure below).Twelve Months Ended December 31, 2021 Financial Highlights:\nConsolidated revenue of $1,985.7 million.Net income of $62.7 million, consolidated net income attributable to EchoStar common stock of $72.9 million, and basic and diluted earnings per share of $0.81.Consolidated Adjusted EBITDA of $718.9 million (see discussion and the reconciliation of GAAP to this non-GAAP measure below).\"The EchoStar team delivered another solid performance in 2021 with year over year growth in revenue, net income, and adjusted EBITDA,\" commented Michael Dugan, CEO and President of EchoStar. \"We remain focused on meeting our customers' needs while operating our business in an efficient manner, innovating new multi-transport technology solutions and preparing to place our next satellite, EchoStar XXIV/JUPITER 3, into service.\"\nThree Months Ended December 31, 2021 - Additional Information:\nConsolidated revenue increased 1.9% or $9.4 million year over year primarily driven by higher equipment sales of $18.8 million to our domestic and international enterprise customers partially offset by lower service revenues of $9.4 million primarily due to lower broadband consumer customers.Adjusted EBITDA decreased 4.3% or $7.2 million year over year.Hughes segment Adjusted EBITDA decreased $10.2 million year over year. The decrease was driven primarily by lower gross margin due to a change in revenue mix as well as higher selling, general and administrative expenses.ESS segment Adjusted EBITDA increased $0.7 million year over year.Corporate and Other segment Adjusted EBITDA increased $2.3 million year over year. The increase was primarily due to lower corporate legal expenses partially offset by increased losses of unconsolidated affiliates, net.Net income decreased $77.5 year over yea...

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