Intelsat Reports Third Quarter Earnings – Satellite Today

Intelsat headquarters Building

Intelsat’s new McLean, Va. headquarters. Photo: Intelsat

[Via Satellite 10-30-2014] Intelsat reported its total revenue for the three months ended Sept. 30, 2014 at $608.6 million. The company’s Earnings Before net Interest, Taxes and Depreciation and Amortization (EBITDA) was $477.8 million, or 79 percent of revenue, and adjusted EBITDA was $485.3 million, or 80 percent of revenue.

Intelsat saw decreases in revenue across network services, media and government sectors. Compared to the third quarter 2013, network services declined 4 percent, media 3 percent and government 20 percent. Of the company’s 2,150 station-kept transponders, the fill rate was 75 percent as of Sept. 30, 2014, compared to 76 percent at the end of the second quarter 2014. Intelsat attributed this decrease to less use by government and African customers.

“Our future satellite programs remain on track, with Intelsat 30 expected to enter service later in the fourth quarter. With the benefits of strong adjusted EBITDA margins, a confirmed 2014 debt pay down of approximately $475 million and reduced interest costs producing strong cash flows, we continue to demonstrate progress on the first phase of our two-phase investment thesis,” said Dave McGlade, chairman and CEO, Intelsat.

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