GILTF sure got killed, but DISH has record earnings and rebounded nicely today.
Echostar Reports Record Results For Fourth Quarter 2000
DISH Network Captures 55 Percent of Net New Direct Broadcast Satellite TV Customers in 2000
LITTLETON, Colo.--(BUSINESS WIRE)--March 13, 2001--EchoStar Communications Corporation (Nasdaq: DISH - news,
DISHP - news) announced today that it continued to experience record-setting customer growth for its DISH Network(TM) direct broadcast satellite (DBS)
television service during the fourth quarter of 2000, adding approximately 495,000 net new subscribers.
This is an increase of approximately 13 percent compared to the 438,000 net new subscribers added in the fourth quarter of 1999.
DISH Network, the fastest growing satellite television provider in the United States, ended the year with approximately 5.26 million subscribers. DISH Network
added approximately 1.85 million net new subscribers for the year ended Dec. 31, 2000, an increase of approximately 26 percent compared to the approximate
1.47 million net new subscriber additions during 1999. As a result, DISH Network, which has been ranked number one in customer satisfaction among
satellite/cable TV subscribers by J.D. Power and Associates studies for both 1999 and 2000, captured 55 percent of all net new DBS television subscribers during
2000. In addition, in only its fourth full year of broadcasting, DISH Network added more net new subscribers in 2000 than any other satellite or cable provider in
history.
EchoStar reported total revenue of $805 million for the three months ended Dec. 31, 2000, a 56 percent increase in total revenue as compared to the fourth quarter
of 1999. EchoStar also reported pre-marketing cash flow of $303 million or $0.64 per share for the three months ended Dec. 31, 2000, as compared to $164
million or $0.36 per share for the corresponding period in 1999. As a result of our record subscriber growth and corresponding up-front acquisition costs, earnings
before interest, taxes, depreciation and amortization (EBITDA) during the fourth quarter of 2000 totaled negative $42 million compared to negative EBITDA of $71
million during the same period in 1999. EchoStar reported an operating loss of $114 million and $161 million for the three months ended Dec. 31, 2000, and Dec.
31, 1999, respectively. The Company's net losses totaled $172 million and $220 million during those same periods.
For the year ended Dec. 31, 2000, EchoStar reported total revenue of $2.7 billion compared to $1.6 billion for the corresponding period in 1999. Pre-marketing
cash flow totaled $971 million during the year ended Dec. 31, 2000, compared to $554 million during the year ended Dec. 31, 1999. With record customer growth,
EchoStar experienced increased up-front acquisition costs, resulting in increased EBITDA and operating and net losses compared to the corresponding period in
1999. EBITDA for the year ended Dec. 31, 2000, totaled negative $187 million, compared to EBITDA of negative $173 million for the corresponding period in
1999. EchoStar's operating loss for the year ended Dec. 31, 2000, totaled $424 million compared to $347 million reported during the corresponding period in
1999. The Company's net losses totaled $621 million and $793 million during those same periods.
Statement under the Private Securities Litigation Reform Act of 1995: All statements contained herein, as well as statements made in press releases and oral
statements that may be made by us or by officers, directors or employees acting on our behalf, that are not statements of historical fact constitute ``forward-looking
statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause our actual results to be materially different from historical results or from any future results expressed or implied by
such forward-looking statements. Among the factors that could cause our actual results to differ materially are the following: a total or partial loss of one or more
satellites due to operational failures, space debris or otherwise; delays in the construction of our seventh, eighth or ninth satellites; an unsuccessful deployment of
future satellites; inability to settle outstanding claims with insurers; a decrease in sales of digital equipment and related services to international direct-to-home service
providers; a decrease in DISH Network subscriber growth; an increase in subscriber turnover; an increase in subscriber acquisition costs; an inability to obtain
certain retransmission consents; our inability to retain necessary authorizations from the FCC; an inability to obtain patent licenses from holders of intellectual
property or redesign our products to avoid patent infringement; an increase in competition from cable as a result of digital cable or otherwise, direct broadcast
satellite, other satellite system operators, and other providers of subscription television services; the introduction of new technologies and competitors into the
subscription television business; a change in the regulations governing the subscription television service industry; the outcome of any litigation in which we may be
involved; general business and economic conditions; and other risk factors described from time to time in our reports and statements filed with the Securities and
Exchange Commission. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements that include the terms
``believes,'' ``belief,'' ``expects,'' ``plans,'' ``anticipates,'' ``intends'' or the like to be uncertain and forward-looking. All cautionary statements made herein should be
read as being applicable to all forward-looking statements wherever they appear. In this connection, investors should consider the risks described herein and should
not place undue reliance on any forward-looking statements.
EchoStar Communications Corporation includes three interrelated business units:
-- DISH Network(TM) is EchoStar's state-of-the-art direct broadcast
satellite system that is capable of offering over 500 channels of
digital video and CD-quality audio programming, including Dolby
Digital sound, interactive television and data services to
consumers across the United States, all on a single dish, as well
as offering fully MPEG-2/DVB compliant hardware and installation.
DISH Network was ranked number one in customer satisfaction among
satellite/cable TV subscribers by the J.D. Power and Associates
1999 and 2000 Cable/Satellite TV Customer Satisfaction studies.
-- EchoStar Technologies Corporation designs, distributes and
oversees the manufacturing of DBS set-top boxes, antennas and
other digital equipment for DISH Network and various international
customers, including Bell ExpressVu Canada and the Via Digital
system in Spain. ETC has also provided construction oversight and
project integration services for customers internationally. ETC
also oversees EchoStar Data Networks Corporation in Atlanta, a
designer of broadband IP streaming products and services for DISH
Network.
-- Satellite Services provides the delivery of interactive video,
audio and data services to business television customers and other
satellite users. These services include satellite uplink,
satellite transponder space usage, business solutions and other
services. Satellite Services also oversees the design and delivery
of interactive television services and satellite equipment.
DISH Network, which currently serves over 5.26 million customers, is a trademark of EchoStar Communications Corporation. EchoStar is included in the
Nasdaq-100 Index (NDX) which contains the largest non-financial companies on the Nasdaq Stock Market. Visit EchoStar's Investor Relations website at
www.echostar.com. DISH Network is located on the Internet at www.dishnetwork.com. |
