Intelsat Says Future Satellites Remain on Track
[Via Satellite 07-30-2015] Intelsat, in announcing its second quarter earnings results, affirmed that the satellites it has awaiting near term launches are still scheduled for when previously anticipated despite launch failures of both International Launch Services’ (ILS) Proton and SpaceX’s Falcon 9 rockets in recent months.
“Our expected satellite launches from August 2015 through the first quarter of 2016 — Intelsat 34, Intelsat 29e, and Intelsat 31 — remain on track, even after accounting for disruptions in the launch sector. We expect that the successful entry into service of these satellites will refresh existing capacity and provide significant incremental inventory, supporting the growth strategies of our media, network services and government businesses,” said Intelsat CEO, Stephen Spengler.
Intelsat reported total revenue of $598.1 million and net income attributable to the company of $60.2 million, or $0.47 per common share on a diluted basis, for the three months ended June 30. The company reported adjusted net income per diluted common share of $0.70 that same period. Intelsat’s Earnings Before net Interest, Taxes and Depreciation and Amortization (EBITDA), stood at $462.3 million, or 77 percent of revenue, and Adjusted EBITDA of $473.4 million, or 79 percent of revenue, for the second quarter 2015.
“Contract renewals in each of our network services, media and government businesses are within our expectations for the year and include promising contract expansions that use traditional and next generation Intelsat EpicNG services. As a result, today we are re-affirming our guidance for 2015 revenue and Adjusted EBITDA. Our guidance also reflects the shifting of some of our 2015 capital expenditures to 2016, due to timing of milestone achievements,” said Spengler, adding that progress on operational priorities is positioning the company for a return to growth over the long term.