Echostar NASDAQ: ECHO said its Hughes business filed for Chapter 11 bankruptcy protection after the unit's $1.5 billion bond maturity came due on Aug. 1 and discussions with bondholders did not produce what the company called a workable solution.
EchoStar (ECHO) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of a loss of $0.29 per share. This compares to a loss of $1.06 per share a year ago.