Dish Network 1999 Annual Report Download - page 27

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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, 1999 have
been derived from, and are qualified by reference to our 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, 1999, and “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this report.
Year Ended December 31,
1995 1996 1997 1998 1999
Statements of Operations Data (In thousands, except subscribers and per share data)
Revenue:
DISH Network........................................................ $ – $ 60,132 $ 344,250 $ 683,032 $ 1,352,603
DTH equipment sales and integration services...... 35,816 78,062 91,637 256,193 184,041
Satellite services ..................................................... –5,822 11,135 22,366 41,071
C-band and other .................................................... 112,704 54,885 30,396 21,075 25,126
Total revenue ............................................................. 148,520 198,901 477,418 982,666 1,602,841
Costs and Expenses:
DISH Network operating expenses........................ –42,456 193,274 395,411 739,310
Cost of sales – DTH equipment and integration
services............................................................... 30,404 76,384 61,992 173,388 148,427
Cost of sales – C-band and other............................ 84,846 42,349 23,909 16,496 17,084
Marketing expenses................................................ 1,786 51,520 179,923 320,521 727,061
General and administrative..................................... 36,397 52,123 69,315 97,105 204,822
Depreciation and amortization ............................... 3,114 43,414 173,276 102,636 113,228
Total costs and expenses ........................................... 156,547 308,246 701,689 1,105,557 1,949,932
Operating income (loss) ............................................ (8,027) (109,345) (224,271) (122,891) (347,091)
Extraordinary charge for early retirement of debt,
net of tax............................................................. – – – – (268,999)
Net income (loss)....................................................... $ (11,486) $ (100,986) $ (312,825) $ (260,882) $ (792,847)
Net loss attributable to common shares .................... $ (12,690) $ (102,190) $ (321,267) $ (296,097) $ (800,100)
Weighted-average common shares outstanding........ 142,248 162,192 167,672 179,928 208,238
Basic and diluted loss per share (1)........................... $ (0.09) $ (0.63) $ (1.92) $ (1.65) $ (3.84)
As of December 31,
1995 1996 1997 1998 1999
Balance Sheets Data
Cash, cash equivalents and marketable
investment securities................................. $ 37,424 $ 58,038 $ 420,514 $ 324,100 $ 1,254,175
Restricted cash and marketable investment
securities ................................................... 99,691 79,291 187,762 77,657 3,000
Total assets .................................................... 623,091 1,141,380 1,805,646 1,806,852 3,898,189
Long-term obligations (less current portion):
1994 Notes ................................................ 382,218 437,127 499,863 571,674 1,503
1996 Notes ................................................ –386,165 438,512 497,955 1,097
1997 Notes ................................................ – – 375,000 375,000 15
9 1/4% Senior Notes due 2006 .................. – – – – 375,000
9 3/8% Senior Notes due 2009 .................. – – – – 1,625,000
4 7/8% Convertible Notes due 2007.......... – – – – 1,000,000
Mortgages and other notes payable, net of
current portion...................................... 33,444 51,428 51,846 43,450 27,990
Series B Preferred Stock ............................... – – 199,164 226,038 –
Total stockholders’ equity (deficit) ............... 156,686 61,197 (88,961) (371,540) (48,418)