Intelsat Reports $619 Million Q4 Revenues, EpicNG Launch Date Slips
[Via Satellite 02-18-2015] Intelsat’s total revenue for the fourth quarter of 2014 was $619.1 million, with net income of $16.2 million. Revenues for the year ended Dec. 31, 2014 were approximately $2.5 billion, with net income of $232.5 million. For the quarter, the percentage of Intelsat’s revenue from media increased 3 percent, while network services decreased by 5 percent and government by 14 percent compared to fourth quarter 2013 results. In a statement, Intelsat Chairman and CEO Dave McGlade said trends from 2014 including regional pricing pressure and reduced government spending have created headwinds for the company in 2015 and going into 2016.
“The path forward for us is clear: design, build and place into service new satellite capacity; introduce services that leverage our ground network and networking capabilities; and develop advanced ground technologies and other innovations that will simplify access to our satellites. Through these initiatives, combined with supporting the growth of our core customers and optimizing the use of our orbital rights and global presence, we will enhance our ability to address larger and higher growth applications. By executing on these priorities, we will be positioned for success once our new inventory becomes available,” McGlade said.
Intelsat’s next satellite, Intelsat 34, is slated to launch in the third quarter of 2015, followed by Intelsat 31 in the first quarter of 2016. The launch of the first Intelsat EpicNG High Throughput Satellite (HTS), Intelsat 29e, has slipped to the first quarter of 2016. With the addition of the recently announced Intelsat 38/Azerspace 2 joint satellite with Azercosmos, Intelsat has 12 satellite programs underway, along with a custom payload on a third-party satellite that will not require capital expenditure.