EchoStar Earnings Surge - TheStreet


(DISH) - Get Report

fourth-quarter earnings rose sharply from a year ago on a 28% increase in revenue and the stock pushed higher in premarket trading.

The company earned $70 million, or 15 cents a share, in the quarter, compared with $3 million, or 1 cent a share, in the year-ago period. Revenue was $1.93 billion in the quarter compared with $1.51 billion last year.

Analysts had been forecasting earnings of 19 cents a share on sales of $1.91 billion in the most recent fourth quarter but the earnings number did not appear comparable to EchoStar's 15-cent bottom line. An


filing showed the quarter included a $4.1 million charge for a debt repurchase.

The stock was recently trading for $30.25 on Instinet, up $1.42, or 3%.

EchoStar said its DISH Network added about 430,000 net new subscribers during the quarter ended Dec. 31, 2004, bringing total subscribers to 10.905 million at that date, an increase of 1.48 million subscribers from Dec. 31, 2003.