2014 Annual Report
Annual Report NASDAQ: SATS Year Ended December 31, 2014 100 Inverness Terrace East Englewood, CO 80112 303.706.4000 | echostar.com March 20, 2015 Dear EchoStar Corporation Shareholders, 2014 was another outstanding year for EchoStar. From our financial performance to our continued progress in the satellite, broadband and video distribution platforms, we continue to demonstrate why we are a leader in the global provisioning of satellite operations and video-delivery solutions. EchoStar ended the 2014 fiscal year very strong, and we continue to meet our financial goals as a corporation. Revenues were $3.45 billion, increasing 5% over 2013, and EBITDA was $903 million—a 39% increase over the fiscal year 2013. Net Income attributable to EchoStar shareholders increased from $5 million in 2013 to $165 million in 2014. We continue to have a very strong balance sheet, with approximately $1.7 billion of cash and marketable securities, giving us ample resources to continue to pursue our strategic objectives. EchoStar has evolved into one of the world’s largest products-and-services companies for satellite-based broadcast and broadband networking. Our vertical integration gives us a unique position in our current markets and also in other markets that we continue to enter. Each of our four divisions plays a role in this strategy, and as we go into the future we will make investments to increase our market share in all of these segments: x We now own, lease and/or manage 24 satellites and continue to add to this fleet. In addition to the Ku and Ka satellites that we have in our fleet, we now have five satellites under construction, including a satellite for mobility services in Europe.
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