Shin Satellite PCL lost 34 million Thai baht ($907,000) in the 2006 second quarter, as revenues slipped nearly 10 percent from the first three months of the year due to declining revenues from the IPStar broadband satellite business, Shin announced Aug. 10. Revenues in the 2006 second quarter were $1.5 billion baht ($40 million). In the first quarter of 2005, Shin lost 58 million baht ($1.5 million) on revenues of $1.8 billion baht ($48 million).

The revenue decline was attributed to a slip in IPStar revenues, which fell from 535 million baht ($14.2 million) a year ago and 508 million baht ($13.6 million) in the 2006 first quarter to 215 million baht ($5.7 million) in the 2006 second quarter. Sales of IPStar user terminals fell from more than 8,000 a year ago and more than 11,000 in the first three months of the year to slightly less than 2,800 in the 2006 second quarter. Shin said the slowdown was due to customers spending time deploying units purchased in the first quarter and that sales should rebound in the third quarter.

Thaicom satellite revenues of 634 million baht ($16.9 million) were down from the first quarter but up from 600 million baht ($16 million) in the 2005 second quarter thanks to the contribution of the recently launched Thaicom 4 satellite. Demand for broadcasting services in South Asia helped contribute to the short-term gain, Shin said.