Tuesday, August 05, 2008

EchoStar Lazy

Echostar ( SATS) reported Q2 results at approximately 6:45 ET Monday Aug 4. The press release is positively one of the laziest pieces of financial information that I have come across in a long time. They throw out a few terse words about profitability which seems to have improved and then they refer you to the 10-Q.

The conference call transcript as carried by www.seekingalpha.com also shows two disturbing aspects. Firstly there was no management discussion or commentary about any of the results. They just jump into Q&A with the sell side analysts. They also ask the media to not quote any of the analysts or the first they work for. The transcript usually shows where the analyst works but in this case Echostar’s wishes are complied with. Except for two firms (Stiffel Nicolaus and Knott Partners) What gives? What we have here is the failure to communicate?