Hughes Network Systems, a Germantown-based satellite network company, announced it realized a growth of more than 6 percent in its revenues compared to 2005, up to $858 million.
During 2006, the company also experienced a large jump in operating income for the year, leaping up 27 percent to $58 million. The financial growth spilled over to other areas as well.
The company attributes to this balance sheet boom in part to growing its consumer and subscriber base by nearly 20 percent. In 2005, there were 274,400 consumers, compared to the 327,500 reported this year.
“Our ongoing focus on working capital management resulted in a net generation of $92 million in cash from operations in the year ended December 2006, a significant improvement over the year ended December 2005,” said Grant Barber, executive vice president and chief financial officer of Hughes.
