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EchoStar Sub Growth Fattens Q3 Profit

Nov 8, 2005  •  Post A Comment

EchoStar Communications reported Tuesday that its third-quarter profit more than doubled, as subscriber growth swelled during the period.

The company reported net income of $209 million, compared with $102 million in the year-ago period. Revenue jumped 14 percent to $2.1 billion.

The improvements came as EchoStar reported that it added 255,000 new subscribers in the quarter, raising its total sub count to just over 11.7 million.

Separately, EchoStar said Tuesday that the Federal Communications Commission approved the company’s $200 million purchase of a satellite and associated satellite operations from Cablevision Systems. EchoStar now expects to close the deal by year-end.