Intelsat reports steady quarter

Intelsat, the world’s leading provider of satellite services, has reported results for the three months ended September 30th, 2011. It had revenue of $652.9 million and a net loss of $0.4 million. Included in the quarterly results were a $20.2 million pre-tax non-recurring charge from a loss on previously unconsolidated affiliates and a $42.7 million income tax benefit, largely attributable to non-recurring items.

“Intelsat delivered steady results in the third quarter, supported by the visibility provided by our $10.7 billion contracted backlog. Several trends influenced our results in the third quarter, as in recent periods, including strength in our government business and solid performance from our media business. Our overall business activity is strong, and we are achieving success in obtaining long-term commitments from blue chip customers for capacity in the fastest growing markets, such as our recently announced services agreement with DirecTV Latin America. This contract builds quality backlog and adds two new satellite programs for the attractive Latin America region,” said Intelsat CEO David McGlade.

“We continue to leverage our satellite fleet and unmatched collection of orbital rights, actively grooming and redeploying our in-orbit assets to deliver satellite capacity to regions of improved opportunity, such as our decision to move the Horizons 2 satellite from North America to serve Russia, which is experiencing attractive growth,” McGlade continued. “Following the successful launch of Intelsat 18 in early October 2011, our fleet investment program progresses, with six satellites planned for launch through the first half of 2013 that will provide growth capacity and new beams, and two additional satellites, launching in 2014 and 2015, to support the DirecTV agreement.”

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