Intelsat Sees Small Decline in Revenue for Q1 2017

Intelsat’s U.S. administrative headquarters: Photo: Intelsat

Intelsat has released its results for the first quarter of 2017, reporting total on-network revenues of $491.4 million, a decline of $2.4 million compared to the same period last year. Total off-network and other revenues came in at $47 million, a 20 percent decrease compared to the same period last year.

However, Intelsat’s Chief Executive Officer (CEO) Stephen Spengler expects to see top-line growth now that Intelsat 33e and Intelsat 32e have entered into service. “Our managed services, IntelsatOne Flex, are attracting new customers and will begin to generate incremental revenues as these networks activate over the course of 2017,” Spengler said.

The company also reported Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of $383.1 million. Intelsat’s contracted backlog, representing expected future revenue under existing contracts, was $8.5 billion.

Intelsat’s merger with OneWeb, as well as the $1.7 billion investment from SoftBank, is expected to conclude late in the third quarter of this year, conditioned upon the consummation of certain Intelsat debt exchange offers.