Intelsat Reports Second Quarter 2013 Results

MarineLink.com
Thursday, August 01, 2013

Satellite service provider Intelsat S.A. published its second quarter results for 2013. The company reported revenue of $653.8 million and a net loss attributable to Intelsat S.A. of $408.3 million, or $4.19 per share, for the three months ended June 30, 2013.

The net loss includes $366.8 million for pre-tax charges related to early extinguishment of debt resulting from debt paydowns resulting from the company's April 2013 initial public offering and debt refinancing activity in the second quarter. The company also reported EBITDA1 , or earnings before net interest, taxes and depreciation and amortization, of $439.2 million, and Adjusted EBITDA1 of $509.4 million, or 78% of revenue, for the three months ended June 30, 2013.

Intelsat CEO Dave McGlade said, "With the completion of our April IPO and successful debt refinancing initiatives in the first half of 2013, we're driving a positive cycle of delivering our balance sheet. Lower interest costs and reduced capital expenditures will enable increased cash flow, which in turn should allow us to further reduce debt. I'm confident Intelsat is well-positioned to create value for all of its stakeholders.

"The Intelsat team is executing against our operational priorities for 2013. New business on video neighborhood satellites and on our broadband mobility infrastructure is driving on-network revenue growth in our network services and media businesses. Declines in our government business, due to the U.S. government budget sequestration and troop drawdowns, were reflected primarily in off-network revenues. Overall, revenue and Adjusted EBITDA grew at 2% and 4%, respectively, as compared to the second quarter of 2012."

McGlade continued, "During the quarter, we furthered our commitment to our next-generation fleet design, announcing manufacturing commitments for four additional satellites to be deployed over the coming years as we replace existing satellites with the innovative, high-throughput and cost-efficient Intelsat EpicNG platform. Leading up to the launch of those satellites, we are working with strategic customers to create portfolios of services on the current fleet that satisfy today's requirements while providing a bridge to our customers' future growth needs on EpicNG . Progress on this front is demonstrated in our strong backlog of $10.4 billion, providing visibility into revenue and cash flow, and stability to our business."

intelsat.com

 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

Finance

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Canaveral Tops State List for Sand Bypass Funding

The Canaveral Harbor Inlet Sand Bypass Project has earned the top state ranking for 2014/15 inlet management funding. As a result, Port Canaveral is expected to receive $100,

Electronics

Nigeria Maritime Academy Gets Bridge Simulator

A NAUTIS Full Mission Bridge Simulator was purchased and delivered to the Maritime Academy of Nigeria in Oron. The new simulator will be used to provide qualitative

KVH Precision Sensors for Geodetics' Inertial Navigation Systems

KVH Industries entered into a strategic partnership with Geodetics Inc., a leader in the development of real-time, high-precision position and navigation solutions.

A New Standard in Marine Communications

KVH provides and Harvey Gulf employs possibly the most sophisticated on-board SATCOM and related service package on the water. That’s no accident.     If quality service,

SatCom

A New Standard in Marine Communications

KVH provides and Harvey Gulf employs possibly the most sophisticated on-board SATCOM and related service package on the water. That’s no accident.     If quality service,

gplink Approved in More than 30 Countries

Remote monitoring and diagnostic services provided by gplink operate through either GSM service or through various satellite technologies. On a global scale, most

Aage Hempel to Equip 10 New PSVs

Aage Hempel, a company in worldwide merchant marine electronic service and focused on 24/7 maritime sales and service, signs agreement for the delivery of navigation

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1270 sec (8 req/sec)