Intelsat posts $640.2M in first quarter revenues

Staff writer
13 May 2011
00:00
News
Press Announcement

Intelsat reported revenues of $640.2 million and a net loss of $215.6 million for the three months ended March.

Included in the quarterly results was a $168.2 million non-cash charge for loss on early extinguishment of debt resulting from refinancing activity. The company also reported Intelsat EBITDA of $489.3 million, and Intelsat adjusted EBITDAi of $499.7 million, or 78% of revenue, for the three months ended March.

“Intelsat delivered solid 3% revenue growth in the first quarter of 2011 and also progressed on initiatives that position the company for long-term profitable growth,” said Intelsat CEO David McGlade.

“The quarter featured the addition of leading programmers to our regional video neighborhoods, new strategic agreements with large African and Latin American communications providers, and increased orders under large government programs at our Intelsat General Corporation business. We ended the quarter with $9.9 billion in contracted services backlog, underscoring the stability and visibility inherent in our business.”

As Intelsat launches replacement and growth capacity at many of its video neighborhoods, prominent global and regional video programmers and direct-to-home (“DTH”) operators initiated, expanded and renewed commitments for capacity.

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