HughesNet Adds Subs, HNS Reports Strong 2007
Hughes Network Systems, which operates the HughesNet satellite broadband product, reported improved financial numbers for 2007.
Also, the company said the customer base for the HughesNet service in the United States increased to 379,900 subscribers as of Dec. 31, growing 16 percent when compared to year-end 2006 numbers, the company said.
For 2007, HNS revenues jumped by 13 percent to $970 million, when compared to 2006 revenues. Operating income for the year was $90 million, representing growth of 56 percent when compared to the previous year, Hughes said.
Net income for HNS increased to $50 million.
Highlights for the company in 2007 included taking control of the Spaceway 3 satellite. HNS said it will utilize the Boeing-built satellite to provide HughesNet broadband satellite services throughout North America.
The satellite is going through a system testing phase and HNS said it expects to commence service later in the first quarter.