Intelsat’s 3% growth
May 11, 2011
By Chris Forrester
Global satellite operator Intelsat saw revenues grew three per cent in its Q1 trading period (to March 31st) with revenues rising to $640.2 million. However, a special debt-related charge made during the period of $168.2 million helped contribute to an overall loss of $215.6 million.
“Intelsat delivered solid three percent revenue growth in the first quarter of 2011 and also progressed on initiatives that position the company for long-term profitable growth,” said Intelsat CEO David McGlade. “The quarter featured the addition of leading programmers to our regional video neighbourhoods, new strategic agreements with large African and Latin American communications providers, and increased orders under large government programmes at our Intelsat General Corporation business. We ended the quarter with $9.9 billion in contracted services backlog, underscoring the stability and visibility inherent in our business.”
McGlade continued, “We have launched two satellites over the past six months and plan to launch another seven through the end of 2012. The new and refreshed capacity these launches offer at key orbital locations is supporting our future growth by attracting strong contract activity from blue-chip customers who rely on the geographic coverage, flexibility, stability and resilience of our global fleet, all of which differentiate us from other operators in the sector.”