ENGLEWOOD, Colo.—Satellite service and TV equipment company EchoStar Corp. says its fourth-quarter loss widened over a year earlier amid hefty impairment and investment charges.
The Englewood-based company said Monday it lost $690 million, or $7.73 per share, during the quarter ended Dec. 31. That compared with a loss of $45 million, or 51 cents per share, in the same quarter a year earlier.
EchoStar said the loss included $216 million in net losses on investments and a $247 million impairment stemming from its purchase of Sling Media.
Revenue rose to $496 million, a 37 percent increase over the prior year.
Analysts polled by Thomson Financial, who typically exclude one-time items, expected a loss of 17 cents per share on revenue of $563.3 million.
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