Maybe this satellite broadband thing is really catching on. As the satellite communications industry was busy reporting second quarter results last week, Hughes Communications quietly emerged as one of the industry’s solid performers.

On Friday, Hughes reported second quarter revenues of $234 million, a 12 percent increase from the same period last year; net income of $10 million; and a 50 cent per share earnings increase during the three month period ending June 30.

Hughes Network Systems President and CEO Pradman Kaul said the company delivered a strong all-round financial performance in the second quarter, setting new records for revenue, operating income, EBITDA, and net income. “Operating income increased by 449 percent to a strong $20 million from $4 million; EBITDA more than doubled to $32 million; and net income increased to $11 million compared to a loss of $4 million in the second quarter of 2006,” he said. “Adjusted EBITDA also increased by 12 percent to $32 million in the second quarter.”

Kaul said the consumer/small- and medium-sized business and mobile satellite sectors continued to be a “key contributor” to the company’s revenue growth. He said the consumer/SMB subscriber base grew to 353,000 - an 18 percent year-over-year increase; and revenues from Hughes’ mobile satellite business grew 88 percent to $35 million.

The company also said it is looking forward to the launch this week of its new SPACEWAY-3 satellite. Kaul said the new satellite will “substantially reduce our costs and open up new revenue opportunities going forward.” SPACEWAY-3 is scheduled for lift off on Wednesday.