Net income totaled $147 million for the quarter ended March 31, 2006, compared with net income of $318 million during the corresponding period in 2005. Basic earnings per share was $0.33 for the quarter ended March 31, 2006, compared with a basic income per share of $0.70 during the corresponding period in 2005. Net income for the quarter ended March 31, 2006, includes a $23 million charge related to early redemption of debt securities during the quarter and a $74 million charge related to the Tivo litigation. Net income for the quarter ended March 31, 2005, included a $134 million gain related to settlement of our EchoStar IV insurance claim.
DISH Network(TM) added approximately 225,000 net new subscribers during the first quarter of 2006, ending the quarter with approximately 12.265 million subscribers.
Detailed financial data and other information are available in EchoStar's Form 10-Q for the quarterly period ended March 31, 2006, filed with the Securities and Exchange Commission.
About EchoStar Communications
EchoStar Communications Corporation (NASDAQ:DISH) serves more than 12.265 million satellite TV customers through its DISH Network(TM), and is a leading U.S. provider of advanced digital television services. DISH Network's services include hundreds of video and audio channels, Interactive TV, HDTV, sports and international programming, together with professional installation and 24-hour customer service. EchoStar has been a leader for more than 25 years in satellite TV equipment sales and support worldwide. EchoStar is included in the Nasdaq-100 Index (NDX) and is a Fortune 500 company. Visit EchoStar's Web site at www.echostar.com or call 1-800-333-DISH (3474).
EchoStar will host its First Quarter 2006 earnings conference call today at noon ET. The call will be broadcast live from EchoStar's Web site, www.echostar.com. To access the webcast of this event, go to www.echostar.com, then select "Investor Relations." A one-time replay of the webcast will be available on the investor relations page of www.echostar.com on May 11, 2006, at 9 p.m. ET.
EchoStar Communications Corporation
Jason Kiser, 303-723-2210
Kathie Gonzalez, 303-723-2010