EchoStar Announces Financial Results for Three and Six Months Ended June 30, 2019

About this update from Echostar Corporation

[{"type":"text","content":"ENGLEWOOD, Colo., Aug. 8, 2019 /PRNewswire/ -- EchoStar Corporation (NASDAQ: SATS) today announced its financial results for the three and six months ended June 30, 2019.\n\n \nThree Months Ended June 30, 2019 Financial Highlights:\nConsolidated revenues of $537 million. Consolidated net loss of $5 million, consolidated net loss attributable to EchoStar common stock of $6 million, and diluted loss per share of $0.06. Consolidated Adjusted EBITDA of $199 million (see discussion and the reconciliation of GAAP to this non-GAAP measure below).Six Months Ended June 30, 2019 Financial Highlights:\nConsolidated revenues of $1,068 million. Consolidated net income of $10 million, consolidated net income attributable to EchoStar common stock of $9 million, and diluted earnings per share of $0.09. Consolidated Adjusted EBITDA of $404 million (see discussion and the reconciliation of GAAP to this non-GAAP measure below).Additional Highlights:\nApproximately 1,415,000 total Hughes broadband subscribers as of June 30, 2019 including approximately 169,000 subscribers in Central and South America. Cash, cash equivalents and current marketable investment securities of $2.5 billion as of June 30, 2019. \nSet forth below is a table highlighting certain of EchoStar's segment results for the three and six months ended June 30, 2019 and 2018 (amounts in thousands):\n \nReconciliation of GAAP to Non-GAAP Measurement (amounts in thousands):\n \nNote on Use of Non-GAAP Financial Measures\nAdjusted EBITDA is defined as \"Net income (loss)\" excluding \"Interest income and expense, net,\" \"Income tax provision (benefit), net,\" \"Depreciation and amortization,\" \"Net income (loss) attributable to noncontrolling interests,\" \"Gains and losses on investments, net,\" and other non-recurring or non-operational items. Adjusted EBITDA is not a measure determined in accordance with US GAAP. Adjusted EBITDA is reconciled to \"Net income (loss)\" in the table above and should not be considered in isolation or as a substitute for operating income, net income or any other measure determined in accordance with US GAAP. Our management uses this non-GAAP measure as a measure of our operating efficiency and overall financial performance for benchmarking against our peers and competitors. Management believes that this non-GAAP measure provides meaningful supplemental ...

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