Here Are Some Important Numbers About EchoStar Corporation (SATS) For You To Know

EchoStar Corporation (SATS) recently released its 2021 first-quarter report. Besides boosting sales, the company has been able to capitalize on the potential of LEO satellite communications.

EchoStar’s revenue for the quarter increased 3.6 % year over year to $ 482.6 million. In terms of net income, the company earned $ 135.3 million, an increase of 42.6%. In terms of adjusted EBITDA, the company generated $ 185.7 million. Cash and equivalents totalled $ 2.3 billion.

Several positive signs are emerging for Hughes, a satellite and broadband provider owned by EchoStar Corporation (SATS). Approximately 1.553 million Hughes customers had signed up as of March 31. Latin America saw an increase, while the US saw a decrease. Hughes’ revenue currently comes from corporate market segments of around 30% and households connected to the Internet with the rest. The Hughes acquisition offers great potential for EchoStar.

 Hughes and OneWeb were awarded a Pentagon contract in May 2021 to demonstrate satellite communication capabilities in the Arctic region. With Hughes satellites, combat units in the Arctic will communicate with military installations anywhere in the world. A high-speed service will connect low-altitude satellites in high orbits with an inclination of more than 50 degrees. To accomplish this, Hughes will design switching devices for the systems and assemble a user terminal. Such orbits are often used by reconnaissance satellites, as well.

Hence, EchoStar’s technology portfolio remains strong, and its defence contracts are sustainable.

The shares of EchoStar Corporation (SATS) rose 2.18% to close Friday’s trading at $26.71. Despite the lower volume, the number of shares traded stayed at 0.53 million, which was also lower than the daily average of 0.76 million shares over the past 50 days. Over the last year, SATS shares fell by -9.27% but climbed by 9.24% this week. Stocks have gained more than 14.7% during the past three months, increasing by 15.53% over the last six months. A current market value of $2.43 billion is also recorded for the company and 97.99 million outstanding shares.