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Hughes Communications, Inc. announced strong growth and record highs in revenue and adjusted EBITDA for both the fourth quarter and full year 2008.
Snapshot of Full Year Financial Results
- Revenue grew to $1.06 billion, an increase of 9% over 2007, 10% on a constant dollar basis.
- Consumer service revenue grew by 21% over 2007 to $323 million; ARPU increased by 5% over 2007 to $65 and subscriber gross adds grew by a record 170,000 or 14% over 2007, with 86,000 subscribers on SPACEWAY® 3 as of December 31, 2008; total subscriber count climbed to 433,000 as of December 31, 2008.
- International VSAT revenue grew by 10% in 2008 over 2007, 14% on a constant dollar basis, with Europe and Brazil service subsidiaries being key growth drivers.
- New orders of $1.2 billion in 2008. Nonconsumer backlog of $841 million at December 31, 2008 representing 12% growth over December 31, 2007 backlog.
- Significant new contracts awarded by U.S. federal, state, and local government agencies, with 2008 revenue growing to $28 million—a new and growing market for Hughes products and services.
- Hughes Network Systems, Inc. (HNS) had record Adjusted EBITDA of $155.4 million for 11% growth over 2007; Hughes Communications, Inc. had Adjusted EBITDA of $151.4 million, also a record.
Snapshot of Fourth-Quarter Results
- Revenue grew 2% over fourth quarter 2007, 7% growth on a constant dollar basis; a solid performance under adverse macroeconomic conditions.
- Consumer service revenue increased by 16% over fourth quarter 2007; 42,000 subscriber gross adds; churn improved to 2.4% from 2.6% in third quarter of 2008.
- Strong adjusted EBITDA of $46.4 million for HNS and $45.2 million for Hughes Communications, Inc.
- New orders of $274 million with key enterprise orders from ConocoPhillips, Wyndham, Blockbuster, Tractor Supply, Edward Jones, BP, Hess, and Barrett Xplore in North America; Telemar, SCT, PRODAM, SEC Bahia, Primesys, Telespazio, Nynex, SREI, MPOS, Iseyco, and WIND in international markets.
* Please note that Q1 2009 financial results will be released on May 7, 2009 visit Investor Relations. |
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