SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 9, 2003
ECHOSTAR COMMUNICATIONS CORPORATION
(Exact name of registrant as specified in charter)
NEVADA 0-26176 88-0336997
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
5701 S. SANTA FE DRIVE
LITTLETON, COLORADO 80120
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 723-1000
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
Exhibit Number Description
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99.1 Press Release dated May 6, 2003 announcing financial
results for the fiscal quarter ended March 31, 2003
ITEM 9. REGULATION FD DISCLOSURE
The information furnished under this "Item 9. Regulation FD Disclosure"
is provided under "Item 12. Results of Operations and Financial Condition". The
information in this Form 8-K and the Exhibit attached hereto shall not be deemed
"filed" for purposes of Section 18 of the Securities Act of 1934, nor shall it
be deemed incorporated by reference in any filing under the Securities Act of
1933, except as shall be expressly set forth by specific reference in such
filing.
On May 6, 2003 EchoStar Communications Corporation issued a press
release announcing its financial results for the fiscal quarter ended March 31,
2003. A copy of the press release is furnished herewith as Exhibit 99.1.
The press release includes the non-GAAP financial measures EBITDA and
free cash flow from operations. EchoStar's management uses EBITDA as a
measurement of operating efficiency and overall financial performance and
believes EBITDA can be a helpful measure for evaluating companies in the
multi-channel video programming distribution industry. Conceptually, EBITDA
measures the amount of income generated each period that could be used to
service debt, pay taxes and fund capital expenditures because EBITDA is
independent of the actual leverage and capital expenditures employed by the
business. It should be recognized that EBITDA does not represent cash provided
or used by operating activities. Management utilizes free cash flow from
operations as a measure of operating efficiency to determine the amount of cash
remaining for general corporate and strategic purposes after
funding operating activities and capital expenditures. Management believes this
information is helpful to investors to determine the Company's cash available
for these purposes. Free cash flow from operations for any given period may be
affected by a variety of factors, including but not limited to, changes in
assets and liabilities and the timing of purchases and payments. EBITDA and free
cash flow from operations are supplemental non-GAAP measures and should not be
considered in isolation or as substitutes for measures of performance prepared
in accordance with generally accepted accounting principles.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
ECHOSTAR COMMUNICATIONS CORPORATION
(Registrant)
Dated: May 9, 2003 By: /s/ Michael R. McDonnell
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Michael R. McDonnell
Senior Vice President and Chief Financial
Officer
INDEX TO EXHIBITS
EXHIBIT
NUMBER DESCRIPTION
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99.1 Press Release dated May 6, 2003 announcing financial results for the fiscal quarter ended March 31, 2003.