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EchoStar Posts 2Q Loss Of $9.8M

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(credit: AP)

(credit: AP)

ENGLEWOOD, Colo. (AP) — EchoStar Corp., which sells set-top boxes and also provides satellite services to Dish Network Corp., said Tuesday that it lost $9.8 million in the second quarter.

The Englewood, Colo.-based company’s loss amounted to 11 cents per share. It had reported net income of $35.7 million, or 41 cents per share, in the same quarter of 2012.

Analysts, on average, expected a loss of 8 cents per share, according to FactSet.

Revenue rose 3 percent to $830 million from $806 million, as equipment sales to Dish jumped 31 percent to $333.9 million.

The recent quarter’s results included $34.7 million in impairment charges related to one of the company’s satellites.

Echostar was spun off from Dish in January 2008. Separately on Tuesday, Dish reported a second-quarter loss of $11.1 million.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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