[05-10-11] FSS operator Intelsat<\/b> increased its 2011 first quarter revenues 3 percent (or $19 million) year-over-year at $640.2 million compared to $621.1 million in the same period last year, driven by growth in its transponder and off-Network and services. The FSS operator\u2019s net losses, however, increased to $215.6 million during the quarter compared from $102.6 million in the first quarter of 2010, due to a $168.2 million non-cash charge that the company incurred for losses on early extinguishment of debt resulting from refinancing activity.
\nIntelsat\u2019s payments for satellites and other property and equipment during the first quarter totaled $175.8 million, including $9.5 million in consolidated capital expenditures for its New Dawn satellite launched in April. Less than a week after New Dawn was launched, Intelsat reported a delay in deploying the satellite\u2019s west antenna reflector, which controls communications in the C-band frequency. Intelsat and New Dawn\u2019s manufacturer Orbital Sciences<\/b> are investigating this issue and assessing possible corrective actions, Intelsat CEO David McGlade said in a statement issued with the company\u2019s financial results.
\n\u201cDeployment of the east Ku-band antenna reflector has been delayed pending resolution of the current situation. The satellite\u2019s solar arrays have been successfully deployed, and the satellite has power and otherwise nominal performance. Since we are in the early stages of the investigation, the potential financial impact, if any, cannot be determined at this time,\u201d McGlade said.
\nThe Intelsat New Dawn satellite, owned by a joint venture between Intelsat and a consortium led by Convergence Partners<\/b>, aims to replace the Galaxy 11 satellite at 32.8 degrees East. The satellite is insured for its launch and in-orbit operations. Orbital Sciences is responsible for New Dawn\u2019s orbit raising activities of Intelsat New Dawn. Orbital\u2019s telemetry indicated to Intelsat that it has executed the procedure to release the west antenna reflector and that telemetry confirms successful release of the reflector. However, the satellite\u2019s temperature data indicated that the reflector was deployed, Intelsat Director of Investor Relations Diane Van Beber told Satellite News<\/i> after the delay was announced.
\n \u201cThe situation is similar to what happened to SkyTerra last year, where their large reflector antenna on the SkyTerra 1 mobile communications satellite had problems deploying its 22-meter antenna reflector,\u201d Van Beber said, referring to Harris Corp.\u2019s hardware malfunction on the Boeing-built SkyTerra 1 satellite in December. \u201cIn our case, Orbital will attempt two in-orbit maneuvers to try to jolt the antenna loose \u2013 a \u2018rock and roll\u2019 maneuver and a thermal method.\u201d
\nIntelsat is currently in the process of procuring and building seven satellites that will be launched from 2011 to 2013. McGlade said the company expects to procure one additional replacement satellite during the guidance period ending in 2013.
\n\u201cBy the conclusion of 2013, our total station-kept transponder count is expected to increase modestly from current levels. Our capital expenditure guidance includes capitalized interest but excludes capital expenditures associated with the Intelsat New Dawn satellite that launched in April 2011,\u201d said McGlade. \u201cWe 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.\u201d
\nIntelsat\u2019s income from operations increased by $44.8 million to $290.3 million during the 2011 first quarter as compared to $245.5 million for the same period last year. The operator said it expects its 2011 total capital expenditures to range from $725 million to $800 million.
\nAt the end of March, Intelsat\u2019s backlog stood at $9.9 billion. Intelsat 18 is the operator\u2019s next scheduled launch, which is scheduled for the second half of 2011.<\/p>\n","protected":false},"excerpt":{"rendered":"
[05-10-11] FSS operator Intelsat increased its 2011 first quarter revenues 3 percent (or $19 million) year-over-year at $640.2 million compared to $621.1 million in the same period last year, driven by growth in its transponder and off-Network and services. The FSS operator\u2019s net losses, however, increased to $215.6 million during the quarter compared from $102.6 […]<\/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-84860","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84860"}],"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=84860"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84860\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=84860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=84860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=84860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}