GERMANTOWN, Md. - Hughes Network Systems, LLC, a subsidiary of EchoStar Corporation (NASDAQ:SATS), has rolled out a new cybersecurity package aimed at small businesses. The Hughes Managed Cybersecurity solution, designed to protect against a wide range of digital threats, is now being offered with a 25% discount to eligible Visa (NYSE:V) small business cardholders through the Visa SavingsEdge program.
The cybersecurity package includes a next-generation firewall provided by Fortinet (NASDAQ:FTNT), intrusion detection and prevention, content filtering, and an automatic 4G LTE wireless backup connection to maintain internet service during outages. Moreover, the system offers separate Wi-Fi networks for employees and guests, and utilizes AI-driven security services for real-time threat intelligence.
Dan Rasmussen, Senior Vice President of Hughes' Enterprise Division, highlighted the importance of cybersecurity for small businesses, noting that nearly half of all cyber breaches affect businesses with fewer than 1,000 employees. The solution is designed to be user-friendly, with options for self-installation or professional setup, and is supported by Hughes' 24/7 expert assistance and next-day maintenance services.
The launch comes as small businesses increasingly recognize the need for robust cybersecurity measures to maintain customer trust and prevent financial losses. Hughes Managed Cybersecurity aims to provide small businesses with an affordable, enterprise-grade security solution that can be easily managed and scaled as needed.
This announcement is part of Hughes' broader efforts to supply advanced broadband equipment and managed network services worldwide. The company is known for its HughesNet internet service and JUPITER System, which power global internet access, and its extensive history in providing in-flight broadband and video services.
The information for this article is based on a press release statement from Hughes Network Systems, LLC.
In other recent news, EchoStar Corporation has been active on multiple fronts. The company recently partnered with AJet to enhance in-flight Wi-Fi services, a move that leverages the expertise of Hughes Network Systems, a subsidiary of EchoStar, along with TCI and Turksat. This collaboration is expected to deliver advanced Wi-Fi services to AJet's passengers.
In another significant development, EchoStar secured a $2.7 billion contract from the U.S. Navy to provide 5G wireless services and devices. The contract is part of the Naval Supply Systems Command Spiral 4 program and will span a decade, offering 5G solutions to the U.S. Department of Defense and other federal agencies.
EchoStar's first-quarter earnings call post-merger with DISH Network Corp (NASDAQ:DISH) highlighted a focus on debt refinancing and cash flow improvement despite an 8% year-over-year revenue decline to $4 billion. However, the company met its Q1 budget targets and anticipates positive operating free cash flow for the year. EchoStar also reported net positive subscriber growth for Boost Mobile in March.
These are just a few of the recent developments at EchoStar. The company continues to make strides in its operations, balancing the challenges and opportunities that come with expanding its services and navigating a post-merger landscape.
InvestingPro Insights
In light of the recent rollout of Hughes Managed Cybersecurity by EchoStar Corporation's subsidiary, Hughes Network Systems, investors may find it pertinent to consider the company's financial health and market performance. EchoStar (NASDAQ:SATS), a prominent player in the Media industry, has been navigating through a challenging financial landscape.
According to InvestingPro data, the company is currently operating with a significant debt burden, which is reflected in its current Price / Book multiple of 0.27 as of the last twelve months ending Q1 2024. This low multiple could suggest that the company's assets are undervalued in the market, potentially offering an entry point for value investors.
Despite the financial headwinds, SATS has demonstrated notable stock performance in the short term, with a 22.76% return over the last three months and a remarkable 43.81% price uptick over the last six months. As of the most recent close, SATS shares were trading at $19.63, which is 79.15% of the 52-week high, indicating a strong recovery in share price. EchoStar's market capitalization stands at $5.33 billion, highlighting its substantial presence in the industry.
For investors seeking a more in-depth analysis, there are additional InvestingPro Tips available for EchoStar, including insights on the company's profitability and cash flow yield. For instance, analysts do not anticipate the company will be profitable this year, and the valuation implies a poor free cash flow yield. With these considerations in mind, investors can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking access to a total of 11 InvestingPro Tips that could further inform investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.