Intelsat Posts Record Revenues; Signs Deals with OlympuSat, NPR
[Satellite Today 08-13-08] Intelsat reported record revenues of $584.9 million in the 2008 second quarter but recorded a loss of $82 million, the company announced Aug. 13. Intelsat reported revenues of $543.2 million and a loss of $31.7 million in the 2007 second quarter.
Intelsat acquired parent company Intelsat Holdings Ltd., an entity controlled by funds advised by BC Partners Holdings Ltd., Silver Lake Partners and certain other equity investors, in February. The satellite operator introduced a new adjusted earnings before interest, taxes, depreciation and amortization measure based upon the financial results of Intelsat Bermuda Ltd. at $464.8 million, or 79 percent of revenue, for the 2008 second quarter.
Intelsat continues to expect 2008 capital expenditures for its satellite programs to total between $460 million and $500 million.
Separately, Intelsat signed a pair of transponder lease agreements. OlympuSat renewed and expanded a multi-year, multi-transponder deal for capacity on Intelsat’s Galaxy 23 satellite.
National Public Radio signed a multi-transponder, multi-year contract renewal for C- and Ku-band capacity on Intelsat’s Galaxy 16 and Galaxy 17 satellites to support the distribution of public radio programming across the United States.