 |
Hughes Communications, Inc. announced record second quarter 2010 adjusted EBITDA with continued impressive growth in the consumer business. |
|
Snapshot of Second Quarter Financial Results
- Record Adjusted EBITDA of $52 million, an increase of 29% over the second quarter of 2009.
- Consumer business continued impressive performance: Total revenue increased by 13% and services revenue by 18% over the second quarter of 2009; strong second quarter subscriber gross adds of 47,000 and net adds of 15,000; consumer ARPU increased to $73 from $70 in the second quarter of 2009; churn improved to 2.0% from 2.3% in the second quarter of 2009.
- Consolidated total revenues of $252 million for a 2% increase over the second quarter of 2009, excluding revenues from the terminated Telematics contract. Total revenues of $256 million in the second quarter of 2009.
- Consolidated services revenues of $193 million for a growth of 16% over the second quarter of 2009, excluding revenues from the terminated Telematics contract; 11% growth in total revenues.
Operating income of $18 million compared to an operating loss of $31 million in the second quarter of 2009, which included a $44 million one-time charge as a result of Chapter 11 filing by Sea Launch.
- New orders of $201 million, with major orders from Best Buy, State of Texas, Conoco Phillips, GTECH, Halliburton, Row 44, and Burger King in the North America Broadband business; and Avanti, Camelot, Afsat, TIM, Martins, Telemar, BEL/NavyNet, and JSC Iskra in the International Broadband business.
- Positive net cash from operating activities of $30 million, a growth of 54% over the second quarter of 2009.
Snapshot of Six Months Ending June 30, 2010
- Adjusted EBITDA of $95 million for a growth of 30% over the six months ending June 30, 2009.
- Strong growth in Consumer business over the six months ending June 30, 2009: total revenue up 14%, service revenue up 20%; subscriber gross adds of 105,000 and net adds of 41,000; total subscriber base of 545,500 as of June 30, 2010, for a growth of 15% over the subscriber base as of June 30, 2009.
- Consolidated total revenues of $495 million for a 3% growth, excluding revenues from the terminated Telematics contract. Consolidated total revenues of $496 million, the same as in the six-month period ending June 30, 2009.
- Consolidated services revenues of $381 million for a growth of 18% over the six months ending June 30, 2009, excluding revenues from the Telematics contract. Consolidated total services revenue growth of 14%.
New orders of $440 million resulting in a non-consumer backlog of $755 million as of June 30, 2010.
- Strong liquidity with cash, cash equivalents, and marketable securities of $222 million as of June 30, 2010.
For up-to-date news, financial information, audios, and videos, visit www.hughes.com/investor. |
|