Intelsat Q1 up 11%
May 16, 2008
Intelsat reported for the three-month period ended March 31, 2008 with revenue of $572.7 million and a net loss of $412.7 million which included $313.1 million in restructuring and transaction costs incurred in connection with the February 4, 2008 acquisition of all of the equity ownership of its parent, Intelsat Holdings Ltd., by Intelsat Global, Ltd. (formerly known as Serafina Holdings Limited), an entity controlled by funds advised by BC Partners HoldingsnLtd., Silver Lake Partners and certain other equity investors.
Intelsat CEO Dave McGlade commented, “Intelsat delivered a strong first quarter. We achieved broad-based revenue growth, with increases reported by each of our three primary customer sectors, Media, Network Services and Government. The powerful forces of globalisation, technology â€“ including mobility, IP networks and high definition television â€“ and deregulation continue to drive demand for our global communications infrastructure, as illustrated by our record contract backlog at quarter end of $8.3 billion.”