EchoStar Announces Financial Results for Three and Twelve Months Ended December 31, 2019

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[{"type":"text","content":"ENGLEWOOD, Colo., Feb. 20, 2020 /PRNewswire/ -- EchoStar Corporation (NASDAQ: SATS) today announced its financial results for the three and twelve months ended December 31, 2019.\n\n \n \n\n \nThree Months Ended December 31, 2019 Financial Highlights:\nConsolidated revenues of $499.0 million. Net loss from continuing operations of $56.3 million, consolidated net loss attributable to EchoStar common stock of $53.1 million, and diluted loss per share of $(0.55). Consolidated Adjusted EBITDA of $155.9 million (see discussion and the reconciliation of GAAP to this non-GAAP measure below).Twelve Months Ended December 31, 2019 Financial Highlights:\nConsolidated revenues of $1.9 billion. Net loss from continuing operations of $113.7 million, consolidated net loss attributable to EchoStar common stock of $62.9 million, and diluted loss per share of $(0.65). Consolidated Adjusted EBITDA of $582.8 million (see discussion and the reconciliation of GAAP to this non-GAAP measure below).\"I am pleased with our performance in the fourth quarter and full year of 2019,\" commented Michael Dugan, CEO and President of EchoStar. \"We grew our revenue and Adjusted EBITDA from 2018. We completed a transformative spin-off of our BSS business to DISH Network Corporation as well as additional strategic transactions that allow us to focus on the growing broadband and connectivity markets. We concluded our joint venture with Yahsat in Brazil in November, and as part of that transaction, acquired approximately 20,000 additional consumer subscribers. Operationally, we grew our consumer subscriber base by another 20,000 in the fourth quarter driven by our international markets which brings our broadband subscriber total to approximately 1.477 million as of year-end 2019. Until our EchoStar 24/J3 satellite is launched, we are focused on increasing the yield on our existing assets and are continuing to explore opportunities in pursuit of our strategy of being a global connectivity provider.\"\nThree Months Ended December 31, 2019 - Additional Information:\nConsolidated revenue increased 10% or $45.0 million year over year. Adjusted EBITDA increased 19% or $25.1 million year over year. Hughes segment Adjusted EBITDA increased by $25.9 million primarily driven by higher revenue and associated margin from our consumer business and enterprise equipment sales. Adj...

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