Intelsat’s Revenue Up 10% in 1Q
Intelsat reported revenue of $631.8 million and a net loss of $557.6 million for the first quarter of 2009, along with earnings before interest, taxes, debt, and amortization of a loss of $24.4 million. The company says the net loss reflected noncash charges of $499.1 million for orbital-location impairments.
The fixed-satellite-services company’s revenue was up 10% compared with the previous-year quarter, while its EBITDA dropped $115.5 million from $91.2 million in the black during the first quarter of 2008.
Among its business highlights for the period, Intelsat listed an agreement by the Australian Defence Force to purchase a specialized UHF communications payload aboard the Intelsat 22 satellite; Fox Pan American Sports’s decision to launch its new HD channel through a multiyear contract for capacity on the Intelsat 805 satellite for Latin America distribution; and the World Baseball Classic using its satellite, fiber, and teleport infrastructure to transmit four HD and 11 standard-definition feeds of the 2009 tournament throughout the globe.
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