Intelsat Q3: “Progressing to expectations”

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Intelsat has released its Q3 financial numbers, reporting revenues of $506.7 million (€457,2m), down 6 per cent, and a net loss of $148.3 million.

CEO Steve Spengler said that Intelsat was experiencing “improving trends with respect to new business for wireless infrastructure on several continents”.

Contracted backlog at September 30th was $7.2 billion as compared to $7.5 billion at June 30th, reflecting a $60 million reduction related to reduced revenue expectations from a certain media customer in Europe and an early termination of a managed service for a North America media customer.

Intelsat reminded investors of the successful launch of its I-39 craft which entered service on October 14th. Anchor customers include the Myanmar Ministry of Transport and Communications, for which Intelsat 39 provides a major source of domestic broadband Infrastructure.

Intelsat reminded investors of the successful launch of its I-39 craft which entered service just over a week ago on Oct 14.  Anchor customers include the Myanmar Ministry of Transport and Communications, for which Intelsat 39 provides a major source of domestic broadband Infrastructure.

A statement from Intelsat read: “On October 9, 2019, Northrop Grumman’s in-space servicing vehicle, Mission Extension Vehicle 1, or MEV-1, successfully launched, and it is now headed towards a rendezvous and docking with the Intelsat 901 satellite. MEV-1 is designed to extend the life of deployed satellites where the existing technology is still viable for the applications served. Because it defers the need to deploy new satellites, MEV-1 will enable Intelsat to redeploy capital into other areas of our business and optimize our capital expenditures for future innovation. With the first phase of the mission complete, Intelsat and Northrop Grumman say they now shift their focus to the most critical parts of the mission—rendezvous and docking—which are expected to occur over the next three months.”

 


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