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

People & Company News

Vestas Profit Beats Forecast

Danish wind turbine maker Vestas Wind Systems posted much higher than expected second-quarter earnings and slightly increased its guidance for the full year, signaling

MV Cape Ray Signals DTRA 'Mission Complete'

The Defense Threat Reduction Agency announces the successful completion of the Cape Ray's mission to destroy Syria's chemical weapons components at sea. The Defense Threat Reduction Agency/U.

HK's COSCO International Reports Strong Profit Growth

For the  six months ended 30th June 2014, shipping services provider COSCO International has announced that its 2014 Interim Results show strong profit growth with Net Profit up 45% YOY.

Marine Electronics

Northrop Grumman Enhances VMFT Software

Northrop Grumman Corporation announced that its latest VisionMaster FT (VMFT) software now includes ADMIRALTY Information Overlay (AIO) as an integral element of

OceanSaver Reports Surge in BWT Orders

OceanSaver said it has received a rush of ballast water treatment (BWT) system orders for large vessels. The Norwegian firm, a BWT specialist developing solutions since 2003,

Sperry Navigation Systems for 7 Bulk Carriers

Northrop Grumman Corporation has been awarded a contract by Peter Dohle Schiffahrts-KG to supply the Integrated Bridge Systems, including navigation, voyage data recorders and radio systems,

Finance

Vestas Profit Beats Forecast

Danish wind turbine maker Vestas Wind Systems posted much higher than expected second-quarter earnings and slightly increased its guidance for the full year, signaling

HK's COSCO International Reports Strong Profit Growth

For the  six months ended 30th June 2014, shipping services provider COSCO International has announced that its 2014 Interim Results show strong profit growth with Net Profit up 45% YOY.

Asia–U.S. Container Lines to Introduce Freight Increase

The Transpacific Stabilization Agreement (TSA) informs that member container shipping lines are proposing an across-the board general rate increase (GRI) of at

Electronics

Elco Launches Electric Outboard Motor Line

Expansion into outboard category brings benefits of electric propulsion to even more boaters Elco Motor Yachts, a company in electric and hybrid marine propulsion for more than 120 years,

Northrop Grumman Enhances VMFT Software

Northrop Grumman Corporation announced that its latest VisionMaster FT (VMFT) software now includes ADMIRALTY Information Overlay (AIO) as an integral element of

Sperry Navigation Systems for 7 Bulk Carriers

Northrop Grumman Corporation has been awarded a contract by Peter Dohle Schiffahrts-KG to supply the Integrated Bridge Systems, including navigation, voyage data recorders and radio systems,

Communication

New Offshore Vessel Management Mobile App

Telerik says that its customer Bhagwan Marine, a leader in servicing the oil and gas industry, together with partner, Glenfield Digital Group, has released the

Blue Denmark in Focus

Danish Maritime Authority (DMA) has brought out new marketing material depicting their strong and open maritime cluster, focusing on quality shipping, health, safety and the environment.

Rune Olav Pedersen Takes Over Corporate Communications in PGS

PGS' General Counsel Rune Olav Pedersen's role is expanded to also include the following departments from Corporate communications; investor relations (IR), internal and external communications,

 
 
Maritime Contracts Naval Architecture Navigation Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1400 sec (7 req/sec)