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Hughes Communications, Inc. announced record fourth quarter and full year 2009 adjusted EBITDA, with impressive growth in the consumer business and strong growth in enterprise services revenues. |
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Snapshot of Fourth Quarter 2009 Results
- Record fourth quarter adjusted EBITDA of $56 million, an increase of 25% over the fourth quarter of 2008.
- Continued solid growth in consumer business: Revenue increased by 15% over the fourth quarter of 2008; record fourth quarter subscriber gross adds of 45,000; net adds of 14,000 for a growth of 18% over the fourth quarter of 2008; consumer ARPU increased to $72 from $68 for the fourth quarter of 2008; churn improved to 2.1% from 2.4% for the fourth quarter of 2008 and 2.3% for the third quarter of 2009.
- New orders of $271 million, with major orders from Shell, ConocoPhillips, AGF, Burger King, Barrett Xplore, Rite Aid, Big 5, CSK O’Reilly, Row 44, Realtime, and Comdata in North America broadband business; Avanti Communications, Afsat, Shenzen Securities, Telemar, PT Selindo, and Valuable Media in international business; and STS Romania and Iridium in Telecom Systems business.
- Positive net cash from operations of $41 million, a 29% increase over the fourth quarter of 2008.
Snapshot of Full Year 2009 Financial Results
- Record adjusted EBITDA of $174 million for a growth of 15% over 2008; excluding the Telematics business, adjusted EBITDA increased by 18% over 2008.
- Strong consumer business growth with revenue of $420 million, an increase of 12% over 2008; gross adds of almost 200,000 subscribers resulting in a subscriber base of 504,000 at December 31, 2009, a growth of 17% over the December 31, 2008 subscriber base; net adds of 71,000, a growth of 34% over 2008; consumer ARPU of $70 for 2009 compared to $68 for 2008; churn improved to 2.2% for 2009 from 2.4% for 2008.
- Total enterprise revenue of $475 million compared to $529 million in 2008, but enterprise services revenue up 19%.
- Telecom Systems revenue down 27% primarily due to completion of mobile satellite development contracts and termination of Telematics contract.
- Consolidated revenue of $1,010 million, a decline of 5% from 2008, a 3% decline on a constant dollar basis.
- New orders of $1,023 million and a nonconsumer backlog of $835 million as of December 31, 2009.
- Positive net cash from operations of $151 million, an increase of 111% over the twelve months ended December 31, 2008.
Please note that Q1 2010 financial results will be released in May 2010. For up-to-date news, financial information, audios, and videos, visit www.hughes.com/investor. |
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