Mixed 1Q for Intelsat
Fixed-Satellite-Services Provider’s Revenue Increases; So Does Net Loss
By Linda Moss -- Multichannel News, 5/15/2007 8:40:00 AM
Intelsat, the world’s largest provider of fixed-satellite services, reported revenue of $518.2 million and a net loss of $115.1 million for the first quarter Tuesday.
Total revenue of $518.2 million in the first quarter increased 5% versus reported unadjusted revenue for Intelsat and PanAmSat for the first quarter of last year, or $280.4 million and $213.2 million, respectively. Intelsat acquired PanAmSat last July for $3.2 billion.
Growth trends included increased sales of transponder services, formerly known as lease services, and managed solutions to network-services customers, with revenue increases generated by existing and new customers in Africa, the Middle East and North America.
The company’s net loss of $115.1 million for the first quarter increased by $25 million compared with the $90.1 million net loss for the year-ago quarter.
During a conference call with analysts, Intelsat CEO David McGlade said the company has successfully launched its Galaxy 17 satellite May 4, with satellites Horizons-2 and Intelsat 11 set to launch by an Ariane 5 rocket in September. Next year, Galaxy 18 is scheduled to launch from Sea Launch’s floating platform, according to McGlade.
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