Hughes Network Systems has announced that OneWeb ordered 10,000 Hughes LEO Terminals to enhance its low Earth orbit satellite networking services for enterprise and government sectors. These terminals, featuring the Hughes electronically steered antenna, provide high-speed, low-latency broadband capabilities. With production set to begin in the second half of 2023, the terminals can deliver speeds up to 195 Mbps and 32 Mbps. This collaboration highlights the strategic partnership between Hughes and OneWeb in expanding satellite connectivity options globally.
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The Commonwealth of Pennsylvania has renewed its contract with Hughes Network Systems for managed network services under the Last User Connectivity contract. This agreement allows Hughes to provide its HughesON™ portfolio, which includes broadband, SD-WAN, and VoIP services to state agencies. Hughes has been a trusted partner since 2018, supporting agencies like the Pennsylvania State Police and the Department of Health. As a leading non-carrier provider in North America, Hughes collaborates with over 450 carriers to ensure optimal network solutions.
EchoStar Corporation (NASDAQ: SATS) announces the retirement of Pradman Kaul, President of Hughes Network Systems, effective December 31, 2022. Paul Gaske will take over as Chief Operating Officer on January 1, 2023. Kaul, a key figure since 1973, leaves a legacy of significant innovations, including the first broadband satellite network. He will remain on the Board as Vice Chairman. His numerous accolades highlight his contributions to the satellite industry. EchoStar continues to focus on connectivity solutions under the leadership of Hamid Akhavan, its CEO.
EchoStar Corporation (NASDAQ: SATS) announced an amended agreement with Maxar Technologies (NYSE: MAXR) for the production of the JUPITER 3 satellite, also known as EchoStar XXIV. This agreement compensates EchoStar for past production delays and expands recourse options for future delays. The satellite aims to deliver over 500 Gbps of capacity, significantly enhancing Hughes Network Systems' offerings. The JUPITER 3 satellite is set for launch in the first half of 2023, with final preparations currently underway at Maxar's facility.
Dirty Dough, a rapidly expanding premium cookie retailer, has partnered with Hughes Network Systems to implement digital signage solutions for its stores. This includes digital menu boards and promotional screens aimed at enhancing customer engagement and streamlining employee operations. As the company seeks to grow nationally, the Hughes MediaSignage cloud-based content management system will support multiple screens across locations. Founded in 2019, Dirty Dough aims to provide a consistent brand experience as it expands its franchise operations.
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EchoStar Corporation (SATS) reported Q3 2022 financial results with consolidated revenue of $497.4 million, a 1.4% decline year over year. Net income was $19.6 million and diluted EPS was $0.27. For the nine months ended September 30, 2022, total revenue reached $1,498.2 million with net income of $119.0 million and EPS of $1.51. Adjusted EBITDA for Q3 was $158.8 million, down 15.1% compared to the previous year. Equipment sales increased, but broadband subscriber levels declined, impacting overall performance.
EchoStar Corporation (NASDAQ: SATS) will hold a conference call on November 3, 2022, at 11:00 a.m. ET to discuss its third-quarter 2022 financial results. The call will be accessible via EchoStar's investor relations website. Participants wishing to ask questions must register to receive dial-in details.
The press release containing the financial results will be available prior to the call, providing investors with timely information.
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