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Hoover's Online Report BuilderEchoStar Communications Corporation (NASDAQ: DISH)
Copyright 2004, Hoover's, Inc.
http://www.hoovers.com
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Table of ContentsThe Basics...............................................................................................................................................................................1
Key Numbers.............................................................................................................................................................1Financial Overview....................................................................................................................................................1Officers & Employees................................................................................................................................................1Board Members..........................................................................................................................................................2Industry Information..................................................................................................................................................2SIC Codes...................................................................................................................................................................2NAICS Codes.............................................................................................................................................................3Top Competitors.........................................................................................................................................................3All Competitors..........................................................................................................................................................3Rankings.....................................................................................................................................................................3
Biographies............................................................................................................................................................................4 Charles W. (Charlie) Ergen.......................................................................................................................................4 James DeFranco, Age 50...........................................................................................................................................4 Michael R. McDonnell, Age 39................................................................................................................................4 David K. Moskowitz, Age 44...................................................................................................................................5 Michael T. Dugan, Age 54........................................................................................................................................5 Steven B. Schaver, Age 48........................................................................................................................................6 Soraya HesabiCartwright, Age 42..........................................................................................................................6 Michael Kelly, Age 41..............................................................................................................................................7 Mark W. Jackson, Age 42.........................................................................................................................................7 O. Nolan Daines, Age 42..........................................................................................................................................7 Peter A. Dea, Age 49.................................................................................................................................................8 Raymond L. Friedloeb, Age 57.................................................................................................................................8 Stephen R. Goodbarn................................................................................................................................................8 JeanMarie Messier, Age 48.....................................................................................................................................9 C. Michael Shroeder..................................................................................................................................................9
Overview..............................................................................................................................................................................10
History..................................................................................................................................................................................11
Products/Operations...........................................................................................................................................................12
Other Resources Available On Hoover's Online..............................................................................................................14Other Resources.......................................................................................................................................................14Related Products From Our Trusted Partners..........................................................................................................14
Annual Financials................................................................................................................................................................15Historical Auditors...................................................................................................................................................16
Quarterly Financials...........................................................................................................................................................18
Historical Financials & Employees....................................................................................................................................21Historical Auditors...................................................................................................................................................22
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Table of ContentsMarket Data.........................................................................................................................................................................23
Comparison Data.................................................................................................................................................................24
Competitive Landscape.......................................................................................................................................................26
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The Basics
5701 S. Santa Fe Dr.Littleton, CO 80120 (Map)http://www.dishnetwork.com
Phone: 3037231000Fax: 3037231399
EchoStar Communications serves up a dish that fits almost everyone's entertainment appetite. The #2 US direct broadcastsatellite (DBS) TV provider (behind DIRECTV), the company operates the DISH Network, providing programming to 9million subscribers in the continental US. Subsidiaries develop DBS hardware such as dishes and integrated receivers anddeliver video, audio, and data services. EchoStar has teamed up with Gilat Satellite Networks (a partner with Microsoft)and Colorado startup WildBlue to develop satellitebased twoway broadband Internet access. CEO Charles Ergencontrols the company, which was engaged in a contact dispute with Viacom over programming costs.
Key Numbers
Company Type Public (NASDAQ: DISH)
Fiscal YearEnd December
2002 Sales (mil.) $4,820.8
1Year Sales Growth 20.5%
2002 Net Income (mil.) ($881.7)
2002 Employees 15,000
1Year Employee Growth 36.4%
Auditor KPMG LLP
Financial Overview
Last Close 16Mar2004 $34.56
52Week High $41.00
52Week Low $27.33
Basic EPS 0.00
Price/Earnings Ratio
Current Ratio 2.12
R&D Expenditures (mil.) 33.00
Ad Expenditures (mil.)
% Owned by Institutions 84.40%
Officers & Employees
Title Name Age Salary Bonus
Chairman and CEO Charles W. (Charlie) Ergen
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EVP and Director James DeFranco 50
SVP and CFO Michael R. McDonnell 39
SVP, General Counsel, Secretary,and Director
David K. Moskowitz 44
VP Human Resources Robert Fuchs
President, COO, and Director Michael T. Dugan 54
President, EchoStarInternational
Steven B. Schaver 48
EVP, DISH Network Soraya HesabiCartwright 42
SVP, DISH Network Service Michael Kelly 41
SVP, EchoStar Technologies Mark W. Jackson 42
Director, CorporateCommunications
Judianne Atencio
Board Members
Title Name Age
Chairman and CEO Charles W. (Charlie) Ergen
President, COO, and Director Michael T. Dugan 54
EVP and Director James DeFranco 50
SVP, General Counsel, Secretary,and Director
David K. Moskowitz 44
Director O. Nolan Daines 42
Director Peter A. Dea 49
Director Raymond L. Friedloeb 57
Director Stephen R. Goodbarn
Director JeanMarie Messier 48
Director C. Michael Shroeder
Industry Information
Telecommunications ServicesCable & Satellite Services
Direct Broadcast Services Providers (primary)
Data ServicesInternet & Online Services Providers
SIC Codes
4841 Cable and other pay TV services
4899 Communication services, nec
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7375 Information retrieval service
7379 Computer related services, necs
NAICS Codes
515210 Cable and Other Subscription Programming
517410 Satellite Telecommunications
517510 Cable and Other Program Distribution
517910 Other Telecommunications
518111 Internet Service Providers
518210 Data Processing, Hosting, and Related Services
519190 All Other Information Services
Top Competitors
Comcast DIRECTV Time Warner Cable
All Competitors
Adelphia Communications Cablevision Systems Charter Communications Comcast Cox Communications DIRECTV Pegasus Communications ReplayTV Time Warner Cable TiVo
Rankings
#341 in FORTUNE 500
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Biographies
Charles W. (Charlie) Ergen
Chairman and CEO
Recent Work Highlights
EchoStar Communications Corporation2001: Chairman and CEO, $250,006 salary, $750,000 bonus
Biography
Charles Ergen started EchoStar Communications Corporation in 1980 under the name of EchoSphere, which sold Cbandsatellite TV dishes to rural homes in Colorado. Under his vision and leadership, EchoStar launched DISH Network in1996, which has become the fastest growing directtohome satellite television company in the United States. In 2001,Ergen was the first person to ever win the Rocky Mountain News' Business Person of the Year for a second time, beingrecognized for the same award in 1996. Ergen was recently named to the Forbes Magazine Top Ten CEO's list and as theFrost & Sullivan 2001 CEO of the Year for Satellite Industry. In 2000, Aviation Week Magazine named him SpaceIndustry Business Man of the Year. In June 1991, INC. Magazine named him Master Entrepreneur of the Year for theRocky Mountain region. In 1988, he received the Home Satellite TV Association Star Award. Ergen was instrumental infighting for consumer rights with the passage of the Satellite Home Viewer Improvement Act in 1999 which gaveAmerican consumers the right to watch local TV channels via satellite. He has also testified before Congress regardingother video competition issues on numerous occasions and was a cofounder of the Satellite BroadcastingCommunications Association. He received his B.S. in General Business and Accounting from the University of Tennesseeand his M.B.A from the Babcock Graduate School of Management at Wake Forest University.
Source: Company Web Site, 2004
James DeFranco, Age 50
EVP and Director
Biography
James DeFranco cofounded EchoStar along with Charles Ergen. As executive vice president, DeFranco oversees salesand distribution. DeFranco is also responsible for the strategic planning for DISH Network. He has held various positionswith EchoStar's subsidiaries, including president of Echo Acceptance Corporation, HTS and HT Ventures, Inc. DeFrancoattended Clarkson College of Technology in Postdam, N.Y., where his academic emphasis was industrial distribution.DeFranco is a member on EchoStar's Board of Directors.
Source: Company Web Site, 2004
Michael R. McDonnell, Age 39
SVP and CFO
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Recent Work Highlights
EchoStar Communications Corporation2001: SVP and CFO, $200,000 salary, $93,750 bonus
Biography
Michael McDonnell is responsible for all accounting, and financial functions of the company. McDonnell joined EchoStarduring late August 2000 with more than 13 years experience in finance and accounting from PricewaterhouseCoopersLLP. Starting as an associate in 1986 in New York, he transferred to the company's hightech group in Washington, D.C.,in 1989. In 1996, McDonnell became a PricewaterhouseCoopers Partner and transferred to Denver. McDonnell served asthe engagement partner for companies in the technology and information communications industries, including AT&TBroadband and FirstWorld Communications. McDonnell earned his undergraduate degree in accounting fromGeorgetown University in Washington, D.C.
Source: Company Web Site, 2004
David K. Moskowitz, Age 44
SVP, General Counsel, Secretary, and Director
Recent Work Highlights
EchoStar Communications Corporation2001: SVP, General Counsel, Secretary, and Director, $119,230 salary, $187,500 bonus
Biography
Joining EchoStar in March 1990, David Moskowitz is responsible for legal and business affairs for EchoStar and itssubsidiaries. From 1986 to 1990, he was Corporate Counsel for MDC Holdings, Inc., a national home building andmortgage banking company. Previously, he practiced in the general corporate and securities law areas with a prominentDenver law firm. Moskowitz received his J.D. with honors from the National Law Center at George WashingtonUniversity in 1983 and his B.A. summa cum laude from Western Maryland College in 1980. He is a member of theAmerican Corporate Counsel Association, the Denver and Colorado Bar associations and a variety of civic organizations.Moskowitz is a member on EchoStar's Board of Directors.
Source: Company Web Site, 2004
Michael T. Dugan, Age 54
President, COO, and Director
Recent Work Highlights
EchoStar Communications Corporation2001: President, COO, and Director, $250,000 salary
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Biography
Michael Dugan is responsible for all operating aspects of the business including DISH Network and EchoStarTechnologies Corporation. He served as the president of EchoStar Technologies Corporation, which was responsible forthe design, distribution and overseeing of manufacturing of DBS satellite TV settop boxes, antennas and other digitalequipment for DISH Network. Dugan was the chief architect behind the technical foundation on which the success ofDISH Network has been built. Previously, Dugan served as vice president of Engineering for Tandon Corporation, as wellas director of Product Marketing and director of Engineering. He also served at Xerox Corporation for 15 years holding avariety of positions. He graduated from the Rochester Institute of Technology with a B.S. in electrical engineering.
Source: Company Web Site, 2001
Steven B. Schaver, Age 48
President, EchoStar International
Biography
Since being named president of EchoStar International in 2000, Mr. Schaver concentrates on expanding EchoStar'sworldwide settop box distribution. He served as chief financial officer and chief operating officer from 1996 until he wasnamed president. From November 1993 to February 1996, he was the vice president of EchoStar's European and Africandistribution and sales offices. From July 1992 to November 1993, he served as the director of Sales and Marketing forEchoStar's largest Spanish customer in Madrid. Since joining EchoStar in 1984, he has held various positions withsubsidiaries of EchoStar, including vice president of European Operations. Prior to joining EchoStar, Schaver was abanking officer with Continental Illinois National Bank.
Source: Company Web Site, 2004
Soraya HesabiCartwright, Age 42
EVP, DISH Network
Recent Work Highlights
EchoStar Communications Corporation2001: EVP, DISH Network, $225,000 salary
Biography
Soraya HesabiCartwright is responsible for Customer Service Operations, Programming, Marketing and HumanResources for DISH Network. Cartwright started with EchoStar in 1996 and she has been responsible for the design,construction, staffing and operations of six DISH Network Customer Service Centers, as well as the Human Resourcesdepartment, which handles thousands of EchoStar employees nationwide. Cartwright has extensive experience in theoperations, sales, marketing and customer service areas and held positions in the corporate human resources field whereshe managed major organizational initiatives to drive employee performance. Cartwright graduated from the University ofColorado in Denver with B.S. degrees in chemistry and math.
Source: Company Web Site,
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Michael Kelly, Age 41
SVP, DISH Network Service
Biography
Michael Kelly serves as senior vice president at EchoStar and oversees the operations of DISH Network Service, L.L.C. anational installation network, and DISH Network's nine customer service centers. In 1991, Kelly founded KellyBroadcasting Systems (KBS), a leader in distributing international radio and television programming in the United States.KBS was acquired by EchoStar in 2000. Kelly was also a DISH Network programmer and retailer for many years. Prior toKBS, Kelly served as executive vice president of Hamilton Communications Consultants, Inc., a professional consultingfirm that specialized in the design and construction of broadcast and telecommunications systems in the United States.Hamilton Communications was later acquired by Kelly.
Source: Company Web Site, 2004
Mark W. Jackson, Age 42
SVP, EchoStar Technologies
Biography
Mark Jackson is responsible for EchoStar Technologies Corporation, as well as the six coupled business units that addressmarkets that fall outside of the current DISH Network residential market: Product Marketing and Architecture, BusinessTelevision Operations, Broadcast and Interactive Data Services, New Business Ventures, Educational Services,Transmission and Satellite Services. Starting in 1993, Jackson served as vice president of Engineering at EchoStar. Priorto joining EchoStar, Jackson was director of Engineering at Tandon Corporation, Inc., where he was responsible forproduct development, strategic planning and new product conception and definition. Jackson earned his degree inelectrical engineering from Texas Tech University.
Source: Company Web Site, 2004
O. Nolan Daines, Age 42
Director
Biography
Mr. Daines is currently consulting for various privatelyheld companies. In 1993, Mr. Daines founded DiviCom, Inc.("DiviCom"), where he held various executive officer positions from the formation of DiviCom until October 1999.DiviCom is a global provider of standardsbased MPEG2 encoding product systems for digital video broadcasting.DiviCom's product lines include audio/video/data encoding and networking systems, as well as integration consulting andimplementation services. Mr. Daines was appointed to EchoStar's Board of Directors in March 1998, and has served as amember of the Corporation's Audit Committee and Executive Compensation Committee since such date.
Source: Proxy, April 5, 2002
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Peter A. Dea, Age 49
Director
Other Company Affiliations
Company Title Salary Bonus
Western Gas Resources, Inc. President, CEO, and Director $486,418 $267,530Recent Work Highlights
Barrett Resources CorporationLast position held, Chairman and CEO
Western Gas Resources, Inc.2001: President, CEO, and Director, $76,731 salary, $44,000 bonus
Biography
Since June 2001, Mr. Dea has served on EchoStar's Board of Directors and as a member of the Audit Committee. Mr. Deahas served as President, Chief Executive Officer and a director of Western Gas Resources since November 1 2001. Hepreviously served as Chairman of the Board of Directors of Barrett Resources Corporation from April 2000 to August2001 and as Chief Executive Officer from November 1999 to August 2001. In addition, Mr. Dea served as Vice Chairmanof Barrett Resources from November 1999 until April 1 2000, as Executive Vice PresidentExploration from December1998 until November 1999 and as Senior Vice PresidentExploration of Barrett Resources from June 1996 untilDecember 1998.
Source: Proxy, April 5, 2002
Raymond L. Friedloeb, Age 57
Director
Biography
Mr. Friedlob has been a Director of EchoStar and a member of its Audit and Executive Compensation Committees sinceOctober 1995. Mr. Friedlob has been a member of the law firm of Friedlob Sanderson Paulson & Tourttillott, LLC since1995, where he specializes in federal securities law, corporate law, transportation and taxation.
Source: Proxy, April 5, 2002
Stephen R. Goodbarn
Director
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Biography
Mr. Goodbarn was Chief Financial Officer of Janus Capital Corporation from 1992 until late 2000. During that time, hewas a member of the Executive Committee and served on the board of directors of many Janus corporate and investmententities. Mr. Goodbarn is a CPA and spent 13 years at Price Waterhouse prior to joining Janus.
Source: Company Press Release, December 31, 2002
JeanMarie Messier, Age 48
Director
Recent Work Highlights
Vivendi Universal S.A.2001: EVP Finance, CFO, and Administration and Secretary, $4,649,508 salary
Vizzavi Europe Ltd.Last position held, Chairman
Biography
JeanMarie Messier is Chairman and Chief Executive Officer of Vivendi Universal. Previously, Mr. Messier wasChairman and Chief Executive Officer of Vivendi (June 1996 to December 2000). Mr. Messier joined CompagnieGnrale des Eaux (renamed Vivendi in 1998) in November 1994, as Chief Executive Officer and Chairman of theExecutive Committee. Prior to his appointment at Vivendi, Mr. Messier was General Partner of the investment bankLazard Frres et Cie (19891994). Mr. Messier started his career as Inspecteur des Finances for the French Ministry ofEconomy and Finance (19821986). He then became Head of the cabinet of Camille Cabana, Deputy Minister in chargeof the privatization program. From 1986 to 1988, Mr. Messier was Advisor to Edouard Balladur, Minister of Economy,Finance and Privatization at the time. Mr. Messier graduated from France's Ecole Polytechnique (19761979) andattended Ecole Nationale d'Administration (19801982). Mr. Messier is member of the Board of Directors of Alcatel,BNPParibas, Cegetel, Compagnie de SaintGobain, LVMHMot Hennessy Louis Vuitton, New York Stock Exchange,UGC, USA Networks and is Chairman of the Supervisory Board of Canal+.
Source: Vivendi Universal S.A., 2001
C. Michael Shroeder
Director
Biography
Mr. Schroeder, a long time veteran of the satellite industry, brings a wealth of knowledge and experience to the board. Afounder of Consumer Satellite Systems, Inc. (CSS) in 1981, he grew his company to encompass a 10 state distributionsystem operating in a region ranging from Wisconsin to Florida. CSS served retailers selling satellite systems, televisionsand a range of consumer electronics products. Mr. Schroeder also founded a programming division that grew to serve over400,000 subscribers. Mr. Schroeder is now retired.
Source: Company Press Release, November 17, 2003
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Overview
EchoStar Communications serves up a dish that fits almost everyone's entertainment appetite. The #2 US direct broadcastsatellite (DBS) TV provider (behind DIRECTV), the company operates the DISH Network, providing programming to 9million subscribers in the continental US. Subsidiaries develop DBS hardware such as dishes and integrated receivers anddeliver video, audio, and data services. EchoStar has teamed up with Gilat Satellite Networks (a partner with Microsoft)and Colorado startup WildBlue to develop satellitebased twoway broadband Internet access. CEO Charles Ergencontrols the company, which was engaged in a contact dispute with Viacom over programming costs.
The company had reached an agreement to buy Hughes Electronics, the parent company of rival DIRECTV, from GeneralMotors. However, the FCC rejected the deal, which would have created one of the largest multichannel TV providers inthe US, and the two companies abandoned their merger plans.
EchoStar's DISH Network provides a wide range of programming (more than 500 digital TV and audio channels) and hassix operational satellites in orbit and maintains sales and service locations throughout the continental US. It operatesdigital broadcast operations centers in Arizona and Wyoming.
The company's engineering division EchoStar Technologies designs the settop boxes used for the DISHNetwork's satellite reception (outsourcing the manufacturing activities). The unit also serves other satellite TV operators,supplying similar receiver systems and providing design and construction supervision of uplink centers in Canada andEurope.
EchoStar's Satellite Services unit leases satellite capacity for audio, data, and video services. The company is developinginteractive TV services through a partnership with OpenTV. To thrwart increased competition from regional cablecompanies, DISH Network has been working to provide customers with local TV channels.
Cofounder and CEO Charlie Ergen owns about 51% of EchoStar's stock (and controls more than 91% of the vote).Minority shareholders include Rupert Murdoch's News Corp. (11%). To help in the effort to purchase DIRECTV, VivendiUniversal acquired a 10% stake in EchoStar in a $1.5 billion deal that included a distribution alliance, but it plans to sellback its stake to EchoStar as a result of the failed merger.
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History
Charlie Ergen, a former financial analyst for FritoLay, founded a Denver company called Echosphere, a retailer oflargedish, Cband satellite TV equipment, with his wife, Candy, and James DeFranco (currently an EVP) in 1980.Echosphere evolved into a national manufacturer and distributor, which in 1987 began its move toward the new directbroadcast satellite (DBS) delivery system. It filed for a DBS license and set up subsidiary EchoStar CommunicationsCorporation to build, launch, and operate DBS satellites. In 1992 the FCC granted the company an orbital slot.
By 1994 Echosphere was the US's largest distributor of conventional home satellite equipment, but the future clearlyrested with DBS and EchoStar. A 1995 reorganization renamed the firm EchoStar Communications; the Echospheredistributor business became a subsidiary. EchoStar also created the DISH (Digital Sky Highway) Network brand, aimingfor an easiertoremember name than its rivals' "DSS" and "USSB."
The company launched the EchoStar I satellite in 1995, followed a year later by EchoStar II. Commencing DISH Networkservice in 1996, EchoStar competed against other DBS providers, including DIRECTV, to win 350,000 subscribers byyear's end.
In 1997 Rupert Murdoch scrubbed a deal that called for News Corp. to buy half of EchoStar for $1 billion; Ergen sued for$5 billion in damages. EchoStar also went public in 1997 and signed up its onemillionth customer.
The next year EchoStar tangled again with Murdoch, winning FCC approval to access programming from FX Networks(owned by News Corp. and the former TCI, now ATcable unit), despite FX Networks' claims that it was locked up inexclusive programming agreements with cable companies. That issue and the 1997 lawsuit were put to rest in 1999 whenNews Corp. and MCI WorldCom (now WorldCom) traded DBS assets, including an orbital slot, for a combined 15%stake in EchoStar.
That year EchoStar and DIRECTV joined forces to successfully lobby for federal legislation allowing local TV signals tobe delivered by satellites nationwide. The company entered the Internet business, providing WebTV Internet access viasatellite to customers through an agreement with US software giant Microsoft. EchoStar also bought Media4 (nowEchoStar Data Networks), which specializes in providing Internet and data transmission over satellite networks.
In 2000 EchoStar formed a joint venture with OpenTV to offer interactive TV services using digital receivers withbuiltin hard disk drives. Also that year the company reached an agreement to distribute twoway broadband Internetaccess using technology developed by the Israelbased Gilat Satellite Networks and Microsoft in a joint venture calledStarBand Communications. In addition, EchoStar paid $50 million for a 13% stake in startup WildBlue Communications,which has planned to launch two geostationary satellites used to offer the twoway data services.
When Hughes Electronics, the parent of DIRECTV, was put up for sale in 2001, EchoStar expressed interest. Aftermonths of negotiations, EchoStar appeared to have given up but instead made an unsolicited offer. Hughes' parent,General Motors, agreed to sell the company to EchoStar after News Corp. dropped out of the bidding. Regulators rejectedthe deal in 2002, and the companies abandoned their merger plans.
As part of its attempt to compete with regioal cable companies that have the capability to provide regional TV channels,DISH Network began offering local channels to towns in California, Idaho, Maryland, Montana, North Carolina, SouthCarolina, Virginia, and Wisconsin in 2003.
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Products/Operations
2002 Sales $ mil. % of totalUS 4,751 98Europe 70 2Total 4,821 100
2002 Sales $ mil. % of totalDISH Network 4,430 92DTH equipment sales 288 6Other services 103 2
Total 4,821 100
Selected Subsidiaries and Affiliations
EchoStar Broadband Corporation EchoStar Orbital Corporation EchoStar DBS Corporation ESat, Inc. (80%) Echosphere Corporation EchoStar International Corporation EchoStar Satellite Corporation EchoStar Technologies Corporation EchoStar Data Networks Corporation Eldon Technology Limited (UK) NagraStar LLC (50%, smart card encryption service) StarBand Communications Inc. (32%, residential twoway, broadband Internet access via satellite) VisionStar, Inc. (90%, Kaband satellite operations) WildBlue Communications Inc. (13%, Kaband satellite broadband data services)
Archived Charts
2001 Sales $ mil. % of totalDISH Network Subscription TV services 3,588 90 Other revenues 17 DTH equipment sales & integration services 271 7Other services 125 3
Total 4,001 100
2001 Sales $ mil. % of totalDISH Network 3,683 92EchoStar Technologies 189 5Other business units 133 3Adjustments (4)
Total 4,001 100
2001 Sales $ mil. % of totalUS 3,904 98
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Europe 97 2
Total 4,001 100
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Other Resources Available On Hoover's Online
News for EchoStar Communications (last 90 days)
Company Press Release Archive
Other Resources
Headquarters Map SEC Filings
10K Filings
Stock Quote Stock Chart Earnings Estimates ValuEngine Analysis Annual Report Investor Relations Financial Data Definitions Market Data Definitions Comparison Data Definitions Historical Financials & Employees Definitions
Related Products From Our Trusted Partners
Buy Reports and Books
D&B Business/Credit Reports: EchoStar Communications Corporation(D&B, Feb 1, 2004, Business Reports)
EchoStar Communications Corporation: Company Profile(Datamonitor, Feb 1, 2004, Business Reports)
SGA Lists Individual Company Contact List for DISH(Sheila Greco and Associates, Nov 24, 2003, Business Reports)
Tomorrow's Telephone Technology: The VoIP Revolution(Hoover's, Inc., Feb 1, 2004, Business Reports)
IT Services: Identifying the Addressable Markets for Telecom Operators(Gartner, Inc., Mar 31, 2003, Business Reports)
Direct Broadcast Services Providers: Financial Analysis Profiles(BizMiner, Dec 23, 2003, Business Reports)
North American IP Contact Center Market(Frost & Sullivan, Jun 9, 2003, Business Reports)
Delivering the Promise of Broadband Networks(IDC, May 1, 2002, Business Reports)
Additional 3rd Party Libraries
Additional Research On EchoStar Communications
Manufacturing Branches Corporate Hierarchy
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Annual Financials
All amounts in millions of US Dollars
Income Statement Dec 02 Dec 01 Dec 00
Revenue 4,820.8 4,001.1 2,715.2
Cost of Goods Sold 2,879.9 2,018.6 221.4
Gross Profit 1,940.9 1,982.5 2,493.8
Gross Profit Margin 40.3% 49.5% 91.8%
SG&A Expense 1,134.8 1,482.4 2,674.5
Depreciation & Amortization 384.9 287.8 191.9
Operating Income 421.2 212.3 (372.6)
Operating Margin 8.7% 5.3%
Nonoperating Income (57.8) (55.0) 19.9
Nonoperating Expenses 482.9 371.4 268.0
Income Before Taxes (809.3) (214.1) (620.7)
Income Taxes 72.5 1.5 0.6
Net Income After Taxes (881.8) (215.6) (621.3)
Continuing Operations (881.7) (215.5) (621.2)
Discontinued Operations 0.0 0.0 0.0
Total Operations (881.7) (215.5) (621.2)
Total Net Income (881.7) (215.5) (621.2)
Net Profit Margin
Diluted EPS from Continuing Operations ($) (0.92) (0.45) (1.32)
Diluted EPS from Discontinued Operations ($) 0.00 0.00 0.00
Diluted EPS from Total Operations ($) (0.92) (0.45) (1.32)
Diluted EPS from Total Net Income ($)
Dividends per Share 0.00 0.00 0.00
Balance Sheet Dec 02 Dec 01 Dec 00
Assets
Current Assets
Cash 1,483.1 1,677.9 856.8
Net Receivables 435.0 424.1 384.6
Inventories 150.3 190.7 161.2
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Other Current Assets 1,251.1 1,219.2 658.2
Total Current Assets 3,319.5 3,512.0 2,060.8
Net Fixed Assets 1,974.5 1,904.0 1,511.3
Other Noncurrent Assets 966.6 1,103.7 1,093.9
Total Assets 6,260.6 6,519.7 4,666.0
Liabilities and Shareholders' Equity Dec 02 Dec 01 Dec 00
Current Liabilities
Accounts Payable 264.8 254.9 226.6
ShortTerm Debt 13.4 14.8 21.1
Other Current Liabilities 1,367.0 1,218.7 975.4
Total Current Liabilities 1,645.2 1,488.4 1,223.1
LongTerm Debt 5,733.6 5,706.5 4,014.8
Other Noncurrent Liabilities 87.4 102.6 56.3
Total Liabilities 7,466.2 7,297.5 5,294.2
Shareholders' Equity
Preferred Stock Equity 0.0 0.0 10.9
Common Stock Equity (1,205.6) (777.8) (639.2)
Total Equity (1,205.6) (777.8) (628.3)
Shares Outstanding (mil.) 481.0 479.4 474.2
Cash Flow Statement Dec 02 Dec 01 Dec 00
Net Operating Cash Flow 66.7 489.5 (118.7)
Net Investing Cash Flow (682.4) (1,279.1) (912.0)
Net Financing Cash Flow 420.8 1,610.7 982.2
Net Change in Cash (194.8) 821.1 (48.5)
Depreciation & Amortization 384.9 287.8 191.9
Capital Expenditures (435.8) (637.5) (331.4)
Cash Dividends Paid 0.0 0.0 0.0
Historical Auditors
Auditor Name Year
PricewaterhouseCoopers LLP 2002
Arthur Andersen LLP 2001
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Data Definitions
Some financial information provided by Media General Financial Services, Inc. , Richmond, Virginia
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Quarterly Financials
All amounts in millions of US Dollars except per share amounts.
Income StatementQuarter Ending
Sep 03Quarter Ending
Jun 03Quarter Ending
Mar 03Quarter Ending
Dec 02
QuarterEndingSep 02
Revenue 1,436.2 1,393.8 1,333.9 1,324.8 1,222.8
Cost of Goods Sold 1,058.5 959.7 808.3 399.9 876.4
Gross Profit 377.7 434.1 525.6 924.9 346.4
Gross Profit Margin 26.3% 31.1% 39.4% 69.8% 28.3%
SG&A Expense 127.3 128.8 268.6 732.4 149.8
Depreciation & Amortization 106.0 103.1 103.4 108.7 100.8
Operating Income 144.4 202.2 153.6 83.8 95.8
Operating Margin 10.1% 14.5% 11.5% 6.3% 7.8%
Nonoperating Income 28.1 37.5 40.0 (66.9) (12.4)
Nonoperating Expenses 133.9 107.7 130.5 119.8 117.6
Income Before Taxes 38.6 132.0 63.1 (652.8) (168.7)
Income Taxes 3.4 3.2 5.2 62.7 (0.6)
Net Income After Taxes 35.2 128.8 57.9 (715.5) (168.1)
Continuing Operations 35.1 128.8 57.9 (715.6) (167.9)
Discontinued Operations 0.0 0.0 0.0 0.0 0.0
Total Operations 35.1 128.8 57.9 (715.6) (167.9)
Total Net Income 35.1 128.8 57.9 (715.6) (167.9)
Net Profit Margin 2.4% 9.2% 4.3%
Diluted EPS from ContinuingOperations ($)
0.07 0.26 0.12 (0.45) (0.35)
Diluted EPS fromDiscontinued Operations ($)
0.00 0.00 0.00 0.00 0.00
Diluted EPS from TotalOperations ($)
0.07 0.26 0.12 (0.45) (0.35)
Diluted EPS from Total NetIncome ($)
Dividends per Share 0.00 0.00 0.00 0.00 0.00
Balance SheetQuarter Ending
Sep 03Quarter Ending
Jun 03Quarter Ending
Mar 03Quarter Ending
Dec 02
QuarterEndingSep 02
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Assets
Current Assets
Cash 908.4 1,152.0 1,058.2 1,483.1 3,428.5
Net Receivables 445.8 431.1 425.6 435.0 433.3
Inventories 148.7 151.8 174.8 150.3 156.4
Other Current Assets 2,213.3 1,581.0 1,464.4 1,251.1 887.0
Total Current Assets 3,716.2 3,315.9 3,123.0 3,319.5 4,905.2
Net Fixed Assets 1,914.5 1,924.4 1,931.5 1,974.5 2,027.2
Other Noncurrent Assets 975.6 992.8 953.3 966.6 1,098.1
Total Assets 6,606.3 6,233.0 6,007.9 6,260.6 8,030.6
Liabilities and Shareholders'Equity
Quarter EndingSep 03
Quarter EndingJun 03
Quarter EndingMar 03
Quarter EndingDec 02
QuarterEndingSep 02
Current Liabilities
Accounts Payable 338.0 321.5 278.5 264.8 280.4
ShortTerm Debt 14.0 13.5 13.5 13.4 14.9
Other Current Liabilities 1,404.5 1,371.8 1,380.8 1,367.0 1,280.1
Total Current Liabilities 1,756.4 1,706.8 1,672.7 1,645.2 1,575.4
LongTerm Debt 5,622.7 5,359.0 5,358.4 5,733.6 5,905.6
Other Noncurrent Liabilities 136.8 96.7 96.9 87.4 91.1
Total Liabilities 7,516.0 7,162.5 7,128.1 7,466.2 7,572.1
Shareholders' Equity
Preferred Stock Equity 0.0 0.0 0.0 0.0 1,452.8
Common Stock Equity (909.6) (929.5) (1,120.2) (1,205.6) (994.3)
Total Equity (909.6) (929.5) (1,120.2) (1,205.6) 458.5
Shares Outstanding (mil.) 484.6 484.2 481.2 481.0 480.8
Cumulative Cash FlowStatement
Quarter EndingSep 03
Quarter EndingJun 03
Quarter EndingMar 03
Quarter EndingDec 02
QuarterEndingSep 02
Net Operating Cash Flow 651.9 433.3 185.0 66.7 463.3
Net Investing Cash Flow (1,123.7) (403.5) (236.4) (682.4) (201.1)
Net Financing Cash Flow (102.8) (360.9) (373.5) 420.8 1,488.4
Net Change in Cash (574.7) (331.1) (424.9) (194.8) 1,750.6
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Depreciation & Amortization 106.0 103.1 103.4 108.7 100.8
Capital Expenditures (241.7) (157.3) (59.6) (435.8) (356.1)
Cash Dividends Paid 0.0 0.0 0.0 0.0 0.0
Data Definitions
Some financial information provided by Media General Financial Services, Inc. , Richmond, Virginia
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Historical Financials & Employees
Income Statement
YearRevenue
($ mil.)Net Income
($ mil.)Net Profit
MarginEmployees
Dec 02 4,820.8 (881.7) 15,000
Dec 01 4,001.1 (215.5) 11,000
Dec 00 2,715.2 (621.2) 11,000
Dec 99 1,602.8 (792.8) 6,048
Dec 98 982.7 (260.9) 3,815
Dec 97 477.4 (312.8) 1,930
Dec 96 211.4 (101.0) 1,200
Dec 95 163.9 (11.5)
Dec 94 191.0 0.1 0.1%
Dec 93 220.9 12.3 5.6%
Stock History
YearStock Price ($) P/E Per Share ($)
FYHigh
FYLow
FYClose
High Low Earns. Div.Book
Value
Dec 02 30.0 13.4 22.3 (0.9) 0.0 (2.5)
Dec 01 39.0 19.5 27.5 (0.4) 0.0 (1.6)
Dec 00 81.2 21.6 22.8 (1.3) 0.0 (1.3)
Dec 99 49.4 5.4 48.8 (1.9) 0.0 (0.1)
Dec 98 6.1 2.0 6.1 (0.8) 0.0 (1.0)
Dec 97 3.5 1.4 2.1 (1.0) 0.0 (0.2)
Dec 96 5.1 2.5 2.8 (0.3) 0.0 0.2
Dec 95 3.2 1.5 3.0 (0.1) 0.0 0.5
Dec 94 (0.0) 0.0 0.3
Dec 93
2002 YearEnd Financials
Debt ratio
Cash ($ mil.) 1,483.1
Current ratio 2.02
Longterm debt ($ mil.) 5,733.6
Shares Outstanding (mil.) 481.0
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Dividend yield 0.0%
Dividend payout
Market value ($ mil.) 10,706.5
Historical Auditors
Auditor Name Year
PricewaterhouseCoopers LLP 2002
Arthur Andersen LLP 2001
Arthur Andersen LLP 2000
Arthur Andersen LLP 1999
Arthur Andersen LLP 1998
Arthur Andersen LLP 1997
Arthur Andersen LLP 1996
Arthur Andersen LLP 1995
Arthur Andersen LLP 1994
Arthur Andersen LLP 1993
Data Definitions
Some financial information provided by Media General Financial Services, Inc. , Richmond, Virginia
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Market Data
Current Information
Last Close 16Mar2004 $34.56 Price/Sales Ratio 3.05
52Week High $41.00 Price/Book Ratio
52Week Low $27.33 Price/Earnings Ratio
60Month Beta 2.1 Price/Cash Flow Ratio (37.57)
Market Value (mil.) $16,747.2 Return on Assets (7.5%)
Shares Outstanding (mil.) 484.6 Return on Equity
Dividend Rate 0.00 Current Ratio 2.12
Dividend Yield 0.0% LongTerm Debt/Equity (6.18)
# of Institutional Holders 939 % Owned by Institutions 84.4%
Latest Short Interest Ratio 3.80 Latest Net Insider Transactions 0.00
Growth Rates 12 Month 36 Month 60 Month
Revenue Growth 18.1% 25.8% 42.4%
EPS Growth
Dividend Growth
Data Definitions
Some financial information provided by Media General Financial Services, Inc. , Richmond, Virginia
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Comparison Data
Profitability Company Industry1 Market2
Gross Profit Margin 41.22% 32.72% 48.19%
PreTax Profit Margin (7.64%) 0.99% 6.72%
Net Profit Margin (8.99%) 0.23% 3.78%
Return on Equity 0.7% 7.4%
Return on Assets (7.5%) 0.2% 1.2%
Return on Invested Capital (10.5%) 0.5% 3.7%
Valuation Company Industry1 Market2
Price/Sales Ratio 3.05 0.63 1.39
Price/Earnings Ratio 181.00 36.25
Price/Book Ratio 1.95 2.71
Price/Cash Flow Ratio (37.57) 9.98 13.91
Operations Company Industry1 Market2
Days of Sales Outstanding 29.24 69.43 59.16
Inventory Turnover 21.1 6.1 7.6
Days Cost of Goods Sold in Inventory 17 59 48
Asset Turnover 0.7 1.0 0.3
Net Receivables Turnover Flow 12.5 5.4 6.2
Effective Tax Rate 42.4%
Financial Company Industry1 Market2
Current Ratio 2.12 1.34 1.41
Quick Ratio 2.0 0.9 1.0
Leverage Ratio 3.45 5.95
Total Debt/Equity 0.82 1.40
Interest Coverage 0.10 2.20 2.20
Per Share Data ($) Company Industry1 Market2
Revenue Per Share 11.33 40.36 19.86
Fully Diluted Earnings Per Sharefrom Total Operations
0.00 0.14 0.76
Dividends Per Share 0.00 0.07 0.43
Cash Flow Per Share (0.92) 2.54 1.98
Working Capital Per Share 4.04 5.23 2.22
LongTerm Debt Per Share 11.60 6.30 10.29
Book Value Per Share (1.88) 13.00 10.15
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Total Assets Per Share 13.63 44.87 60.41
Growth Company Industry1 Market2
12Month Revenue Growth 18.1% 13.3% 6.1%
12Month Net Income Growth 129.0%
12Month EPS Growth 137.5%
12Month Dividend Growth (56.3%) 4.9%
36Month Revenue Growth 25.8% (3.1%) 2.3%
36Month Net Income Growth (11.4%)
36Month EPS Growth (12.0%)
36Month Dividend Growth (42.3%) 2.2%1Industry: Electronic EquipmentIndustry classifications are from Media General Financial Services, Inc. .
2 Public companies trading on the New York Stock Exchange, the American Stock Exchange, and the NASDAQ National Market.
Data Definitions
Some financial information provided by Media General Financial Services, Inc. , Richmond, Virginia
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Competitive Landscape
KEY: Best of Group. Companies listed are Top Competitors.
Key NumbersEchoStar
CommunicationsComcast DIRECTV 1
Time WarnerCable 1
Annual Sales ($mil.) 4,820.8 18,348.0 7,193.3 7,035.0
Employees 15,000 68,000 30,000
Market Value ($mil.) 16,747.2 63,116.1
ProfitabilityEchoStar
CommunicationsComcast DIRECTV 1
Time WarnerCable 1
Industry2 Market3
Gross Profit Margin 41.22% 50.11% 32.72% 48.19%
PreTax Profit Margin (7.64%) (1.41%) 0.99% 6.72%
Net Profit Margin (8.99%) 17.66% 0.23% 3.78%
Return on Equity 7.9% 0.7% 7.4%
Return on Assets (7.5%) 3.0% 0.2% 1.2%
Return on Invested Capital (10.5%) 4.7% 0.5% 3.7%
ValuationEchoStar
CommunicationsComcast DIRECTV 1
Time WarnerCable 1
Industry2 Market3
Price/Sales Ratio 3.05 3.44 0.63 1.39
Price/Earnings Ratio 19.47 181.00 36.25
Price/Book Ratio 1.53 1.95 2.71
Price/Cash Flow Ratio (37.57) 8.85 9.98 13.91
OperationsEchoStar
CommunicationsComcast DIRECTV 1
Time WarnerCable 1
Industry2 Market3
Days of Sales Outstanding 29.24 16.68 69.43 59.16
Inventory Turnover 21.1 37.9 6.1 7.6
Days Cost of Goods Soldin Inventory
17 9 59 48
Asset Turnover 0.7 0.3 1.0 0.3
Net Receivables TurnoverFlow
12.5 20.6 5.4 6.2
Effective Tax Rate 42.4%
FinancialEchoStar
CommunicationsComcast DIRECTV 1
Time WarnerCable 1
Industry2 Market3
Current Ratio 2.12 0.75 1.34 1.41
Quick Ratio 2.0 0.7 0.9 1.0
Leverage Ratio 2.66 3.45 5.95
Total Debt/Equity 0.74 0.82 1.40
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Interest Coverage 0.10 0.70 2.20 2.20
Per Share Data ($)EchoStar
CommunicationsComcast DIRECTV 1
Time WarnerCable 1
Industry2 Market3
Revenue Per Share 11.33 8.15 40.36 19.86
Fully Diluted Earnings PerSharefrom Total Operations
0.00 1.44 0.14 0.76
Dividends Per Share 0.00 0.00 0.07 0.43
Cash Flow Per Share (0.92) 3.17 2.54 1.98
Working Capital Per Share 4.04 (1.11) 5.23 2.22
LongTerm Debt PerShare
11.60 12.14 6.30 10.29
Book Value Per Share (1.88) 18.32 13.00 10.15
Total Assets Per Share 13.63 48.79 44.87 60.41
GrowthEchoStar
CommunicationsComcast DIRECTV 1
Time WarnerCable 1
Industry2 Market3
12Month RevenueGrowth
18.1% 47.3% 13.3% 6.1%
12Month Net IncomeGrowth
129.0%
12Month EPS Growth 137.5%
12Month DividendGrowth
(56.3%) 4.9%
36Month RevenueGrowth
25.8% 30.5% (3.1%) 2.3%
36Month Net IncomeGrowth
(11.4%)
36Month EPS Growth (12.0%)
36Month DividendGrowth
(42.3%) 2.2%
1 Data unavailable.2 Industry: Electronic EquipmentIndustry classifications are from Media General Financial Services, Inc. .3 Public companies trading on the New York Stock Exchange, the American Stock Exchange, and the NASDAQ National Market.
Data Definitions
Some financial information provided by Media General Financial Services, Inc. , Richmond, Virginia
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Copyright 2004, Hoover's, Inc.
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Table of Contents The Basics Key Numbers Financial Overview Officers & Employees Board Members Industry Information SIC Codes NAICS Codes Top Competitors All Competitors Rankings
Biographies Charles W. (Charlie) Ergen James DeFranco, Age 50 Michael R. McDonnell, Age 39 David K. Moskowitz, Age 44 Michael T. Dugan, Age 54 Steven B. Schaver, Age 48 Soraya Hesabi-Cartwright, Age 42 Michael Kelly, Age 41 Mark W. Jackson, Age 42 O. Nolan Daines, Age 42 Peter A. Dea, Age 49 Raymond L. Friedloeb, Age 57 Stephen R. Goodbarn Jean-Marie Messier, Age 48 C. Michael Shroeder
Overview History Products/Operations Other Resources Available On Hoover's Online Other Resources Related Products From Our Trusted Partners
Annual Financials Historical Auditors
Quarterly Financials Historical Financials & Employees Historical Auditors
Market Data Comparison Data Competitive Landscape