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The Satellite News Financial Ticker

By Staff Writer | May 10, 2004
      Week of April 30 – May 6, 2004
      Percentage Change
      Symbol
      May 6 Price
      One Week
      One Month
      Three Month
      Year to Date
      Operators
      APT SATELLITE HLDGS ATS
      1.85
      3.4
      (10.2)
      (26.6)
      (22.3)
      ASIASAT TELECOM SAT
      16.50
      (0.6)
      (7.6)
      (17.7)
      (13.1)
      BRITISH SKY BROADCASTING BSY
      48.09
      (0.8)
      (2.6)
      (15.9)
      (5.6)
      ECHOSTAR COMM -CL A DISH
      32.25
      (2.4)
      (2.2)
      (15.2)
      (5.1)
      THE DIRECTV GROUP DTV
      17.52
      1.4
      8.4
      2.9
      5.9
      LORAL SPACE & COMM LOR
      0.54
      10.2
      (8.5)
      (33.3)
      71.4
      NEWS CORP NWS
      36.50
      0.1
      (2.5)
      (0.3)
      1.1
      NEW SKIES SATELLITES NSK
      7.70
      0.7
      13.2
      10.0
      7.5
      PANAMSAT SPOT
      23.01
      (0.7)
      (8.3)
      3.3
      6.7
      PASIFIK SATELIT NUSANTARA PSNRY
      0.22
      –
      57.1
      100.0
      340.0
      PEGASUS COMMUNICATIONS PGTV
      17.43
      (12.9)
      (53.5)
      (38.4)
      (37.9)
      SES GLOBAL SESF.LU
      7.23
      (8.5)
      3.1
      (10.7)
      (9.6)
      SIRIUS SATELLITE RADIO SIRI
      3.21
      2.2
      (17.5)
      14.6
      1.6
      XM SATELLITE RADIO XMSR
      23.48
      (2.5)
      (20.6)
      2.7
      (10.7)
      Operators’ Average
      100.00
      (0.7)
      (3.7)
      (1.8)
      23.6
      Manufacturers
      ANDREW ANDW
      17.36
      1.5
      (15.6)
      (0.3)
      49.8
      BALL BLL
      64.40
      (2.0)
      (8.7)
      (0.3)
      8.1
      BOEING BA
      43.93
      1.6
      3.7
      (0.9)
      4.2
      COM DEV INTL *CDV
      1.83
      (18.9)
      (33.9)
      (40.4)
      (36.6)
      EMS TECHNOLOGIES ELMG
      18.98
      6.6
      (11.3)
      (11.2)
      (7.6)
      GARMIN GRMN
      29.50
      (10.7)
      (30.3)
      (42.7)
      (45.9)
      GILAT SAT NETWORKS GILTF
      6.07
      (11.6)
      (35.3)
      (21.4)
      24.1
      GLOBECOM GCOM
      6.67
      12.9
      17.6
      1.8
      40.4
      HARRIS HRS
      43.91
      (2.7)
      (12.2)
      (9.8)
      15.7
      HONEYWELL HON
      34.36
      (2.5)
      (1.9)
      (4.3)
      2.8
      KVH KVHI
      13.73
      (2.4)
      (7.5)
      (26.7)
      (50.2)
      LOCKHEED MARTIN LMT
      48.88
      3.2
      3.3
      (1.0)
      (4.9)
      LUCENT TECHNOLOGIES LU
      3.38
      (2.0)
      (21.8)
      (22.8)
      19.0
      MOTOROLA MOT
      18.80
      1.1
      3.0
      11.0
      34.3
      ORBITAL SCIENCES ORB
      12.62
      (2.8)
      (2.9)
      (2.4)
      5.0
      QUALCOMM QCOM
      63.91
      (0.8)
      (6.4)
      10.8
      18.5
      RAYTHEON RTN
      32.02
      0.1
      0.2
      2.8
      6.6
      ROCKWELL COLLINS COL
      31.59
      (2.3)
      (2.3)
      (2.2)
      5.2
      SCIENTIFIC-ATLANTA SFA
      32.66
      (3.0)
      (4.5)
      (3.5)
      19.6
      SKY FRAMES SKYU
      0.10
      –
      (9.1)
      900.0
      –
      TITAN TTN
      19.12
      0.4
      (4.0)
      (12.0)
      (12.3)
      TRIMBLE NAVIGATION TRMB
      26.60
      6.7
      13.1
      9.9
      7.1
      VIASAT VSAT
      22.59
      3.8
      (14.9)
      (9.8)
      18.0
      Manufacturers’ Average
      100.00
      (1.0)
      (7.9)
      31.5
      5.3
      Nasdaq Composite Index
      Nasdaq comp
      1,937.74
      (1.1)
      (5.9)
      (6.1)
      (3.3)
      SP 500 sp50
      1,113.99
      0.0
      (3.0)
      (2.5)
      0.2
      SN Stock Price Average
      100.00
      (0.9)
      (6.3)
      18.9
      12.2

      Wall Street Analysis

      This week will offer an important indicator of how satellite operators are performing. Both of the big U.S. satellite TV service providers, DirecTV and EchoStar Communications [DISH], are releasing their first-quarter results. In addition, New Skies Satellites N.V. [NSK] and PanAmSat [SPOT] are scheduled to do likewise.

      With economic indicators pointing upward, demand for satellite capacity and services should follow suit. I expect slightly improved results generally for satellite operators during the first quarter of 2004 compared with the same quarter last year.

      What could be especially interesting are the conference calls between the management at each company and the analysts who cover them. DirecTV and EchoStar are at odds in lobbying in Washington, D.C., as well as fiercely competing in the marketplace for customers. PanAmSat was sold last month, and its CEO Joe Wright will have a chance to offer his view of the future when he addresses analysts. Dan Goldberg, the CEO of New Skies, will be presented with an opportunity to clarify just how interested he is in exploring the potential sale of his company with the help of its investment banker, Goldman Sachs.

      With Intelsat recently confirming talks with possible financial buyers, virtually all of the traditional, global fixed satellite services (FSS) companies, except for Luxembourg-based SES Global, appear to be in play. Clearly, the always interesting satellite industry may involve further ownership changes at key companies in the coming months. The effects of those changes will be worth monitoring to determine which companies end up as the long-term survivors. The list that might be drawn up by year’s end could differ markedly from what may have been expected at the end of 2003. SES Global appears to the strongest candidate for survival, while the consolidation path the others will undertake is less clear.

      Paul Dykewicz is senior editor and senior analyst of Satellite News. He can be reached at 301/354-1769 or at [email protected].

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