Intelsat reduces losses
March 1, 2012
By Chris Forrester
Global satellite operator Intelsat reported its full year and Q4 numbers March 1st, saying that its government-based business had seen a 7 per cent growth during the year, and media-related broadcasting (largely DTH) generate revenue growth of 4 per cent during the year.
However, revenues overall only grew 2 per cent, not helped by the problems last May on its Intelsat/New Dawn craft over Africa “which limited revenue growth in our network services business,” according to CEO Dave McGlade. Intelsat received an insurance pay-out of $118 million, representing the partial loss of the New Dawn satellite.
Intelsat’s 3-month numbers saw revenues of $652.9 million ($643.9 same period a year ago) and a net loss of $3.5 million for the quarter to December 31, 2011. Intelsat’s full year revenues were $2.6 billion and a net loss of $432.9 million.
McGlade reported that Intelsat’s contracted backlog stood at $10.7 billion, at December 31st. “In 2012 we will take major steps in bringing new and refreshed capacity to our network, including the planned launches of five satellites that are targeted to support higher-demand applications in growing regions,” continued McGlade. “Our fleet investment programme is focused on building network infrastructure that delivers the advanced technologies and high bandwidth that will support our customers as they enhance their competitiveness and enter new markets.”