Revenue Gains Help Intelsat Cut Net Loss
[Satellite Today – 3-20-08] Intelsat Ltd. reported record revenue of $575.5 million in the 2007 fourth quarter, helping cuts it net loss by 96 percent to $2.6 million, the company announced March 20.
For the year, Intelsat posted revenue of $2.2 billion, a 29 percent increase over 2006 revenues of $1.7 billion. Intelsat’s loss fell from $368.7 million in 2006 to $191.9 for 2007.
“In 2007, Intelsat demonstrated the ability to deliver revenue growth [and] improved operating profit margins and positive free cash flow from operations even as we made significant investments in our fleet,” Intelsat CEO Dave McGlade said in a statement. “Our fourth quarter results provided a strong finish to a good year, with revenue growth in excess of 7 percent over the prior year quarter after excluding our legacy channel service offering.”