PanAmSat Up in 2Q

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PanAmSat Holding Corp. posted a 3.4% revenue gain in the second quarter of 2005, taking in $213.9 million versus $206.8 million in the prior-year quarter.

The satellite-based distributor of TV channels and provider of network-distribution services posted a net loss of $32.2 million, compared with second-quarter-2004 net income of $10.7 million, due to charges of $46.5 million for early debt repayment and $18.6 million for an interest-rate hedge.

“Our core video revenues, which make up nearly two-thirds of our business, grew 10% in the quarter over last year because we provided the highest reliability and fastest service in the industry and we are servicing the largest number of high-definition channels in the United States,” CEO Joe Wright said in a prepared statement. “Our HDTV neighborhood, Galaxy HD, continues to be the place to be.”

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