Intelsat Reports Second Quarter 2012 Results
Satellite investment program progresses with three launches planned for third quarter; Intelsat EpicNG high performance satellite platform establishes leadership with long-term commitments.
Intelsat S.A. (I), the world's leading provider of satellite services, reported financial results for the three months ended June 30, 2012. Intelsat S.A. reported revenue of $638.7 million and a net loss of $84.0 million for the three months ended June 30, 2012. The company also reported Intelsat S.A. EBITDAi, or earnings before net interest, loss on early extinguishment of debt, taxes and depreciation and amortization, of $468.3 million, and Intelsat S.A. Adjusted EBITDAi of $492.0 million, or 77 percent of revenue, for the three months ended June 30, 2012. Contracted backlog at June 30, 2012, was $10.6 billion.
Intelsat CEO Dave McGlade said, "In the second quarter, Intelsat achieved steady financial performance while embarking upon a new era in our continuing industry leadership. Near term, our 2012-2013 launch program will provide valuable growth capacity and also include the final phase of deployment of our global broadband mobility infrastructure. As these satellites enter service, our business will benefit from demand for fixed and mobile applications serving media, government and network services customers. Given the timing of this expansion capacity being added to our fleet, revenue growth in the second half of 2012 is expected to begin to accelerate modestly; total year 2012 revenue results are expected to be slightly positive as compared to 2011."
McGlade continued, "In June, we announced the realization of our long-term vision for our global infrastructure, the Intelsat EpicNG satellite platform, our next generation satellite series. Intelsat EpicNG incorporates a high performance and high throughput design with operational features that are important to our B2B customer base, such as frequency flexibility, open architecture and backward compatibility of ground hardware. The recently announced long-term contractual commitments by blue-chip customers to the platform, as well as new commitments and renewals on the current fleet, demonstrate the enduring need for broadband infrastructure on land, sea and air."