NEW SKIES’ FIGURES GO INTO ORBIT

New Skies Satellites NV, the satellite communications company, reported record revenue, operating income and net income in its third quarter 2000 results.

Revenues for the three-month period ended September 30, 2000 were $66.8 million (E79.23m) – an increase of $31.2m or 88 per cent compared to $35.6 million for the same period in 1999.

Net income for Q3 2000 was $17.6 million, or $0.18 per diluted earnings per share, compared to $3.2 million and $0.03 per share for the same period last year. This was “primarily as a result of a exceptional one-time early termination payment”, said New Skies. Excluding that payment, net income increased $1.6m to $4.8m. EBITDA (earnings before interest, taxes, depreciation and amortisation) for the third quarter 2000 increased to $44.9m, from $20.8m for the third quarter 1999. The EBITDA margin grew to 67.2 per cent in the current quarter, up from 58.6 per cent in Q3 1999. Excluding the impact of the one-time early termination payment, EBITDA grew by 21 per cent to $25.2m in the third quarter 2000.

Last month New Skies sold 28.5 million newly issued ordinary shares – some 22 per cent of the total currently issued and outstanding ordinary shares – in an IPO that generated $256.5m.