http://www.skyreport.com/#Story3
This week, Hughes Communications released first quarter results, its first reporting of financials as a publicly-traded company.
First quarter revenues for Hughes wholly-owned subsidiary HNS were $196.8 million, representing an increase of $18.6 million when compared to revenues of $178.2 million recorded during the same period in 2005. Net income improved by $14.6 million to $194,000 during the first quarter, when compared to a loss of $14.4 million for the same period last year.
Said Grant Barber, Hughes' chief financial officer, "We are pleased with the solid operating results posted in this quarter. In addition, our successful closing of $450 million of senior unsecured notes in early April, allowed us to retire our bank debt of $325 million." He added, "We are confident that, due to these actions, we now have a strong balance sheet with the resources available for us to pursue appropriate strategic initiatives, including Spaceway."
This week, Hughes Communications released first quarter results, its first reporting of financials as a publicly-traded company.
First quarter revenues for Hughes wholly-owned subsidiary HNS were $196.8 million, representing an increase of $18.6 million when compared to revenues of $178.2 million recorded during the same period in 2005. Net income improved by $14.6 million to $194,000 during the first quarter, when compared to a loss of $14.4 million for the same period last year.
Said Grant Barber, Hughes' chief financial officer, "We are pleased with the solid operating results posted in this quarter. In addition, our successful closing of $450 million of senior unsecured notes in early April, allowed us to retire our bank debt of $325 million." He added, "We are confident that, due to these actions, we now have a strong balance sheet with the resources available for us to pursue appropriate strategic initiatives, including Spaceway."
