Intelsat Reports Third Quarter 2013 Results

MarineLink.com
Thursday, October 31, 2013

Intelsat S.A., a provider of satellite services, has reported revenue of $651.8 million and net income attributable to Intelsat S.A. of $87.8 million, or $0.75 per share on a diluted basis, for the three months ended September 30, 2013. The company also reported EBITDA1, or earnings before net interest, taxes and depreciation and amortization, of $493.6 million, and Adjusted EBITDA1 of $508.4 million, or 78% of revenue, for the three months ended September 30, 2013.

"Intelsat's third quarter performance was led by growth in its media and network services customer sets. We generated free cash flow from operations of $333 million, reflecting the benefits of lower interest rates as a result of our refinancing activities and the debt retirements achieved thus far in 2013, as we furthered our progress on reducing leverage and creating equity value," Intelsat CEO Dave McGlade said. "Despite the solid performance, we are managing through two trends affecting our revenue growth and our operating expense profile. These include revenue declines due to ongoing effects of the U.S. government reduced spending and budget sequestration. It also includes the impact of fiber deployments and the oversupply environment in Africa, which affects our network services business."

McGlade continued, "While these issues will continue to influence near-term results, our long-term outlook remains positive as we execute on our two-phase strategy to deliver returns to equity investors:  use near-term improving cash flows to de-lever our balance sheet, while positioning the company for organic growth upon the entry into service of our new Intelsat EpicNG satellites beginning in 2016, which support the growth plans for existing and future customers. During the quarter, we announced the first customer for Intelsat 33e, the second Intelsat EpicNG satellite, launching in 2016. This contributed to our strong backlog of $10.3 billion, which provides visibility into revenue and cash flow, and stability to our business."
 

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

People & Company News

Unplanned Encounters Discussed at Navy CNO's China Meeting

Chief of Naval Operations (CNO) Adm. Jonathan Greenert has left the People's Republic of China (PRC) after a successful four-day counterpart visit with military leaders,

Germany as a Maritime Location Endangered: VDR

Germany, which currently is home to the world’s biggest container vessel fleet, will in future have fewer small shipping firms as European banks avoid the industry

Shipbuilders Vard Report Financial Fair Sailing

Designers and shipbuilders of offshore and specialised vessels, Vard Holdings, has announced its financial results for the second quarter of financial year 2014 (“2Q2014”),

Finance

Germany as a Maritime Location Endangered: VDR

Germany, which currently is home to the world’s biggest container vessel fleet, will in future have fewer small shipping firms as European banks avoid the industry

Shipbuilders Vard Report Financial Fair Sailing

Designers and shipbuilders of offshore and specialised vessels, Vard Holdings, has announced its financial results for the second quarter of financial year 2014 (“2Q2014”),

Wärtsilä's JV with CSSC to Expands Engines Range

Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines.

News

Wärtsilä's JV with CSSC to Expands Engines Range

Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines.

Flirting with Default, Argentina Enjoys Oil Drilling Boom

Holders of Argentina's  defaulted debt and their supporters have warned the country risks being frozen out from international capital markets unless it finds

Sembawang Shipyard to Convert 2 FPSOs for Kaombo Project, Angola

Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured a Floating Storage Production Offloading (FPSO) conversion contract worth about S$600 million from Saipem SA,

Electronics

Singapore Approves Danelec New-Generation VDR

The Maritime and Port Authority of Singapore has issued a certificate of approval for the Danelec DM100 VDR for installation on ships under the Singapore registry.

Hamburg Süd Launches Free App

Hamburg Süd has just released a free app for smartphones and tablets that is available for its customers to download. The Hamburg Süd app allows customers to access information about Track & Trace,

Industry's First Color Fishfinder by Lowrance

Lowrance, a world-leading brand in marine electronics since 1957 — announced today the newest additions to its Elite family of fishfinder and chartplotter products,

Communication

Matson to Release Q2 2014 Financial Results

Leading U.S. carrier in the Pacific, Matson, Inc., informs it will release its financial results for the Second Quarter 2014 on Thursday, July 31, 2014. President

Jeff Lantz to Address Upcoming Interferry Annual Conference

The conference organizers inform that In a further response to the sinking of the South Korean ferry 'Sewol' in April, safety issues will be centre stage at Interferry’s 39th annual conference,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Ship Repair Ship Simulators 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: 0.2502 sec (4 req/sec)