Dish Network 1998 Annual Report Download - page 26

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Item 6. SELECTED FINANCIAL DATA
The selected consolidated financial data as of and for each of the five years ended December 31, 1998 have
been derived from, and are qualified by reference to, our, and our predecessor entities, Consolidated Financial
Statements which have been audited by Arthur Andersen LLP, independent public accountants. This data should be
read in conjunction with our Consolidated Financial Statements and related Notes thereto for the three years ended
December 31, 1998, and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”
included elsewhere in this report.
Year Ended December 31,
1994 1995 1996 1997 1998
Statements of Operations Data (In thousands, except subscribers and per share data)
Revenue:
DISH Network........................................................ $ – $ – $ 60,132 $ 344,250 $ 683,032
DTH equipment sales and integration services ...... –35,816 78,062 91,637 256,193
Satellite services...................................................... – – 5,822 11,135 22,366
C-band and other..................................................... 179,313 112,704 54,885 30,396 21,075
Total revenue ............................................................. 179,313 148,520 198,901 477,418 982,666
Costs and Expenses:
DISH Network operating expenses ........................ – – 42,456 193,274 395,411
Cost of sales – DTH equipment and integration
services ............................................................... –30,404 76,384 61,992 173,388
Cost of sales – C-band and other ............................ 133,635 84,846 42,349 23,909 16,496
Marketing expenses ................................................ 2,346 1,786 51,520 179,923 320,521
General and administrative ..................................... 27,873 36,397 52,123 69,315 97,105
Depreciation and amortization................................ 2,243 3,114 43,414 173,276 102,636
Total costs and expenses............................................ 166,097 156,547 308,246 701,689 1,105,557
Operating income (loss)............................................. $ 13,216 $ (8,027) $ (109,345) $ (224,271) $ (122,891)
Net income (loss) ....................................................... $ 90 $ (11,486) $ (100,986) $ (312,825) $ (260,882)
Net loss attributable to common shares..................... $ (849) $ (12,690) $ (102,190) $ (321,267) $ (296,097)
Weighted-average common shares outstanding........ 32,442 35,562 40,548 41,918 44,982
Basic and diluted loss per share (1)........................... $ (0.03) $ (0.36) $ (2.52) $ (7.66) $ (6.58)
As of December 31, December 31, 1998
1994 1995 1996 1997 Actual
As
Adjusted (2)
As Adjusted
and Pro
Forma (3)
(Unaudited)
Balance Sheets Data
Cash, cash equivalents and marketable
investment securities................................. $ 48,544 $ 37,424 $ 58,038 $ 420,514 $ 324,100 $ 353,699 $ 353,699
Restricted cash and marketable investment
securities (4).............................................. 196,831 99,691 79,291 187,762 77,657 – –
Total assets..................................................... 472,492 623,091 1,141,380 1,805,646 1,806,852 1,762,883 2,932,883 (5)
Long-term obligations (less current portion):
1994 Notes ................................................ 334,206 382,218 437,127 499,863 571,674 1,390 1,390
1996 Notes ................................................ – – 386,165 438,512 497,955 950 950
1997 Notes ................................................ – – – 375,000 375,000 15 15
Senior Exchange Notes................... – – – – – 5 5
9 1/4% Senior Notes due 2006................. – – – – – 375,000 375,000
9 3/8% Senior Notes due 2009................. – – – – – 1,625,000 1,625,000
Mortgages and other notes payable, net of
current portion ...................................... 5,393 33,444 51,428 51,846 43,450 43,450 43,450
Series B Preferred Stock................................ – – – 199,164 226,038 – –
Total stockholders’ equity (deficit) ............... 103,808 156,686 61,197 (88,961) (371,540) (747,202) 422,798