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Hughes Communications, Inc. announced strong third quarter 2009 results with record growth in the consumer business, strong services revenue growth, record adjusted EBITDA, and a solid cash performance.
Snapshot of Third Quarter 2009 Financial Results
Consumer business set new records with impressive growth over the third quarter of 2008:
Record third quarter subscriber gross adds of 50,000, an increase of 14%
Record third quarter subscriber net adds of 17,000 for growth of 49%.
Services revenue increased by 19%.
Revenue of $251 million compared to $272 million in the third quarter of 2008.
Record third quarter Adjusted EBITDA of $44 million, an increase of 13% over the third quarter of 2008.
New orders of $208 million, with major orders from GTECH, Burger King, Social Security
Administration, Row 44, Equiva, Yum! Brands, LodgeNet, Barrett Xplore, and Rite Aid in North America. Major orders from international customers included World Bank, Ethiopian Telecom, BP Spain, Martins Brazil, and NIT Nigeria. Strong non-consumer backlog of $822 million at September 30, 2009
Positive cash from operations of $74 million compared to $26 million in the third quarter of 2008
Snapshot of Financial Results for Nine Months Ending September 30, 2009
Revenue of $747 million compared to $775 million in the nine month period ended September 2008, a 1% decline on a constant dollar basis.
Services revenue up 13% over the nine month period ended September 2008, 16% on a constant dollar basis. Broadband services revenue up 13%, 17% on a constant dollar basis.
Adjusted EBITDA of $117 million for a growth of 10% over the nine month period ended September 30, 2008.
Total subscribers of 490,000 at September 30, 2009 reflecting a growth of 16% over the subscriber base at September 30, 2008.
Positive cash from operations of $111 million compared to $40 million in the nine months ended September 30, 2008.
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