Intelsat Reports 3rd Quarter 2012 Results
Nov 10, 2012 (Close-Up Media via COMTEX) --
Intelsat S.A., a company focusing on providing satellite services, reported financial results for the three months ended September 30.
In a release on November 5, the Company noted that Intelsat S.A. reported revenue of $654.9 million and a net loss of $34.5 million for the three months ended September 30. The company also reported Intelsat S.A. EBITDAi, or earnings before net interest, loss on early extinguishment of debt, taxes and depreciation and amortization, of $471.1 million, and Intelsat S.A. Adjusted EBITDAi of $511.3 million, or 78 percent of revenue, for the three months ended September 30. Contracted backlog at September 30, was $10.8 billion.
Intelsat CEO Dave McGlade said, "In the third quarter, Intelsat achieved steady financial performance and further executed on our initiatives to serve media, broadband, mobility and government applications. Sequential revenue growth increased as expected, as expansion capacity and a hosted payload entered service. Overall, we continue to expect that full year 2012 revenue results will be slightly positive as compared to 2011."
McGlade continued, "Our launch campaign progressed with successful launches of Intelsat 20 and Intelsat 21 in the third quarter; both satellites are now in service. On October 14, we completed our fifth and final launch for this year, Intelsat 23, which is now completing in-orbit testing. Demand for broadband connectivity for mobility applications, such as maritime and aeronautical, is opening new growth avenues for our satellite infrastructure. As our global Ku-band broadband mobility platform nears completion, Intelsat is positioned for an early lead in serving these important growth segments."
Satellite industry analyst NSR estimates the satellite-based maritime and aeronautical connectivity segment will grow to an approximately $950 million industry-wide opportunity by 2020. As demand for broadband connectivity extends to the skies, Intelsat made further strides in capturing new opportunities in the emerging commercial aeronautical connectivity segment.
-In September, Intelsat announced a new contract with commercial aeronautical broadband service provider Gogo, a company focusing on in-flight connectivity and in wireless in-flight digital entertainment solutions, on nine beams on Intelsat's global Ku-band broadband mobility platform. Gogo will use capacity on the Intelsat 14, Intelsat 19, Intelsat 21, Intelsat 22, and Intelsat 27 satellites to extend its current U.S. domestic service territory to international regions.
-In August, Intelsat also announced that Panasonic Avionics Corp., a company focusing on in-flight entertainment and communications, had selected the Intelsat EpicNG platform for its next generation commercial aeronautical service offering. Subsequently, Panasonic signed a new agreement for Ku-band capacity on Intelsat 14, located at 315 degrees East, expanding its current aeronautical service platform.
-Intelsat's network services business continues to experience demand for fixed, wireless and broadband infrastructure used by telecom operators, wireless operators and enterprise network providers.
-Brazilian telecommunications firm Intelig Telecomunicacoes, a subsidiary of Telecom Italia Moviles recently renewed its long-term commitment for C-band capacity on Intelsat 901 at 342 degrees East to provide Internet trunking, cellular backhaul and fiber redundancy to remote locations in the Amazon region.
-Telefonica del Peru, an integrated telecommunications operator, contracted for new capacity on Intelsat 1-R at 310 degrees East, migrating later to Intelsat 805 at the same orbital location. The company will use the capacity for domestic cellular backhaul and enterprise private data networks.
-iSatcom, a data networking company, recently signed a multi-year agreement on Intelsat 20. The company plans to use the services to deliver VSAT service to customers across Mongolia.
-Claro Chile, a subsidiary of America Movil, recently renewed its multi-year agreement on Intelsat 23 at 307 degrees East for the distribution of programming content to cable television operators, as well as cellular backhaul and corporate VSAT services across Chile.
-Intelsat's media business momentum continued, as use of capacity grew under previous contractual commitments, primarily from direct-to-home ("DTH") service providers. Additional contracts in the period reflect regionalization of content, among other trends.
-Intelsat recently announced new agreements with two of Bulgaria's top media companies. NURTS, the primary tower company and sole digital terrestrial television ("DTT") operator in Bulgaria, will leverage capacity on Intelsat 12 at 45 degrees East to contribute content to its terrestrial towers for DTT services in Bulgaria. In the second agreement, Bulgarian Telecom (VIVACOM), Bulgaria's national telecommunications provider, signed a multi-year agreement on Intelsat 12 to add high-definition content to its DTH platform for delivery in Bulgaria.
-Multichoice Technical Operations (Pty), a DTH provider serving Africa and a subsidiary of Naspers, signed a new agreement for additional capacity on Intelsat 904 at 60 degrees East.
-NTA Nigeria, the national broadcaster, recently renewed its contract for the distribution of Ku-band DTH video service to customers in Europe on Intelsat 905 at 335.5 degrees East.
-As announced in September, Mexico-based Grupo Televisa renewed its multi-year deals on Intelsat 11 at 317 degrees East and Intelsat 905 at 335.5 degrees East. The company will provide prime high-definition distribution of its Pay TV services for Latin America's cable distribution systems on Intelsat 11, and its European Pay TV bouquet to cable systems on Intelsat 905.
-Intelsat's executed contract renewals and expansions in the government sector reflected solid demand for mobility applications with the high reliability and coverage of Intelsat's fleet. Various customers added over 100 MHz of capacity to existing mobility networks, the majority of which was on the Intelsat fleet.
-Intelsat General Corp., an indirect subsidiary of Intelsat S.A., was selected as a prime contractor under the U.S. government's new Custom SATCOM Solutions contract, a program that will provide turnkey satellite communications solutions to military and civilian government users. The program, known as CS2, is the final segment of the new Future COMSATCOM Services Acquisition (FCSA) procurement process, managed jointly by the Defense Information Systems Agency and the General Services Administration.
-Intelsat is successfully executing a satellite-launch program to expand and refresh its service capacity. The current program includes six satellites, five of which have launched in 2012.
-The Intelsat 19 satellite entered into service in August 2012, having suffered damage to one solar array during its June 2012 launch. Although both solar arrays are deployed, the power available to the satellite is less than is required to operate 100 percent of the payload capacity. We have filed a partial loss claim with the Company's insurer relating to the solar array anomaly.
-The Intelsat 20 satellite, launched on 2 August 2012, entered into service in September at its orbital destination of 68 degrees East, where it is replacing the Intelsat 7 and Intelsat 10 satellites.
-The Intelsat 21 satellite, launched on 19 August, entered into service in October at its orbital destination of 302 degrees East, where it replaced the Intelsat 9 satellite.
-Intelsat 23 was successfully launched on 14 October, and is expected to enter service later in the fourth quarter 2012 at 307 degrees East, replacing Intelsat 707. Intelsat 23 will provide C-band services to customers in the Americas, Europe and Africa, and Ku-band coverage for Latin America.
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