[11-09-11] FSS operator Intelsat<\/b> lightened its debt load and significantly narrowed its losses in its 2011 fiscal third quarter as the company prepares to invest in new satellites over Africa, according to its latest financial results issued Nov. 8.
\nIntelsat reported a net loss of $422,000 during the quarter, compared with a net loss of $106.4 million in the same period last year. The operator spent last year paying down its debt, which resulted in a $75.8 million loss but also helped cut $28 million from its 2011 third-quarter interest expenses. The reduced expenses led to a 6 percent increase in operational income to $292.2 million. The company also grew its revenues 1 percent to $652.9 million compared to the 2010 third quarter.
\nIntelsat\u2019s contracted backlog now stands at $10.7 billion at the end of the quarter, which placed the operator in a much better position compared to the end of 2010 when its backlog was $9.8 billion.
\nIntelsat CEO David McGlade said several key drivers, including an increase in its government business and a solid performance from its media sector, influenced the results. \u201cOur overall business activity is strong, and we are achieving success in obtaining long-term commitments from blue chip customers for capacity in the fastest growing markets, such as our recently announced services agreement with DirecTV Latin America. This contract builds quality backlog and adds two new satellite programs for the attractive Latin America region,\u201d McGlade said in a statement.
\nThe strong performance couldn\u2019t have come at a better time for the operator as it prepares to launch three new satellites to its 22-spacecraft fleet serving Africa in 2012. Separately, Intelsat announced new contracts Nov. 8 with customers utilizing its African video distribution satellite neighborhoods and broadband capacity.
\n Regional premier pay-TV platform operator and programming distributor Multichoice Africa<\/b> expanded its commitment for capacity on Intelsat 904 for contribution services. This agreement complements Multichoice\u2019s DTH capacity on Intelsat 7 satellite at the 68.5 degrees East orbital slot. India\u2019s Zee Entertainment Enterprises<\/b> also will begin distributing its programming at 68.5 degrees East after signing a multi-year agreement with the operator that spans both Intelsat 10 and the follow-on Intelsat 20 satellite, which is scheduled for launch in mid-2012. Dubai-based operator Strong Technologies<\/b> also renewed its multi-year commitment to the Intelsat 10 video neighborhood to support its DTH platform.
\n\u201cFrom introducing DTH platforms to supporting reliable broadband in remote regions, Intelsat\u2019s satellite network has been a springboard for technology advancement in Africa, supporting the continent\u2019s socioeconomic development,\u201d Intelsat Senior Vice President of Global Sales Kurt Riegelman said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"
[11-09-11] FSS operator Intelsat lightened its debt load and significantly narrowed its losses in its 2011 fiscal third quarter as the company prepares to invest in new satellites over Africa, according to its latest financial results issued Nov. 8. Intelsat reported a net loss of $422,000 during the quarter, compared with a net loss of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-83971","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/83971"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=83971"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/83971\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=83971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=83971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=83971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}