Intelsat delivers “solid” Q2
July 30, 2015
Intelsat, the global provider of satellite services, today reported total revenue of $598.1 million (€547m) and net income attributable to Intelsat of $60.2 million, or $0.47 per common share on a diluted basis, for the three months ended June 30th 2015. The company reported adjusted net income per diluted common share1 of $0.70 for the three months ended June 30th 2015.
Intelsat reported EBITDA of $462.3 million, or 77 per cent of revenue, and Adjusted EBITDA1 of $473.4 million, or 79 per cent of revenue, for the period.
Intelsat CEO, Stephen Spengler, said, “Overall, Intelsat delivered a solid second quarter with revenues of $598 million. Contract renewals in each of our network services, media and government businesses are within our expectations for the year and include promising contract expansions that use traditional and next generation Intelsat EpicNG services. As a result, today we are re-affirming our guidance for 2015 revenue and Adjusted EBITDA. Our guidance also reflects the shifting of some of our 2015 capital expenditures to 2016, due to timing of milestone achievements.”
“Progress on our operational priorities allows us to position for a return to growth over the long term. We are continuing to leverage sector innovations that will differentiate our services and enable us to address new and faster growing applications and vertical markets. In June 2015, we announced an alliance with OneWeb’s proposed low earth orbit satellite platform, which will be interoperable with our Intelsat EpicNG fleet. This will create the first and only fully global, pole-to-pole high throughput satellite system, providing increased differentiation of our mobility networks and government services. We continued our work on introducing new services in the second quarter, announcing IntelsatOne Flex, a fully-managed infrastructure service for the mobility sector. IntelsatOne Flex gives our customers flexibility to better manage capacity for geographic expansion and surge requirements.”
Spengler continued, “Our expected satellite launches from August 2015 through the first quarter of 2016 — Intelsat 34, Intelsat 29e, and Intelsat 31 — remain on track, even after accounting for disruptions in the launch sector. We expect that the successful entry into service of these satellites will refresh existing capacity and provide significant incremental inventory, supporting the growth strategies of our media, network services and government businesses.”