Update Intelsatís revenues grow 8% -
Intelsatís revenues grow 8%
Global satellite provider Intelsat reported an impressive set of revenue numbers for its Q4 and full-year (to Dec 31 2008) results.
Intelsat reported revenue of $608.8m ($575m in same period last year) and a net loss of $524.2m (loss of $2.57m) for its Q4 ended December 31, 2008. The net loss includes non-cash charges of $326.8m for orbital location impairments and $186.6m for a loss on undesignated interest rate swaps. The companyís EBITDA was a loss of $71.1m
Intelsatís full-year revenues were $2,364.9m ($2,174m for 2008), which translated into a net loss of $1,198.2m (loss of $886m for 2008).
Making financial sense of Intelsatís year-on-year position is not easy given that it has gone through a complex financial restructuring over the past two years, and also absorbed PanAmSat during the same period.
Intelsatís system average fill rate on its approximately 2,125 station-kept transponders remained at 83% at December 31, 2008, the same rate as at September 30, 2008. In Q4, 19 net new transponders were put into service.
Intelsat announced several new launch contracts and its intent to accelerate the build and launch of 3 satellites, increasing the current number of satellites in development to 10, including the New Dawn satellite announced in December 2008.
Included in the 2009 launch program is the Intelsat 14 satellite that will feature a government-related hosted payload known as the Internet Router in Space, or IRIS. The Intelsat 15 satellite is also expected to launch in 2009.