EchoStar reported a net loss of $690 million for the quarter ended December 31, 2008, compared with a net loss of $45 million during the corresponding period in 2007. The net loss for the fourth quarter of 2008 includes the following impairments and net losses on investments on an after tax basis: $247 million for goodwill related to the acquisition of Sling Media, $216 million for net losses on investments, $187 million related to certain satellites, and $4 million of other asset impairments. The loss per share was $7.73 for the quarter ended December 31, 2008, compared with $0.51 during the corresponding period in 2007.
For the year ended December 31, 2008, EchoStar reported total revenue of $2.2 billion compared with $1.5 billion for the year ended December 31,, 2007, an increase of 39 percent. EchoStar’s net loss for the year ended December 31, 2008, totaled $944 million, compared with $85 million for the year ended December 31, 2007. In addition to the fourth quarter impairments listed above, the net loss for the year included $272 million of impairments and net losses on investments on an after tax basis that were reported in previous quarters of 2008. The loss per share was $10.57 for the year ended December 31, 2008, compared with $0.95 during the corresponding period in 2007. Select this direct link to read the entire report.