Intelsat Q2 revenues fall 1.6%, maintains FY guidance

Thursday 27 July 2017 | 15:50 CET | News

Satellite operator Intelsat reported second-quarter revenues of USD 533.2 million, down 1.6 percent from a year earlier, while adjusted EBITDA rose 1.7 percent to USD 417.9 million. The company said these results were in line with guidance set in June.

Intelsat swung to a net loss of USD 23.8 million in the three months to June compared to the same period of 2016 when it made a USD 131.4 million gain on early extinguishment of debt.

The company also confirmed its full-year guidance for revenues of USD 2.15-2.18 billion and adjusted EBITDA of USD 1.64-1.67 billion and reaffirmed capex targets of USD 500-550 million in 2017, USD 400-475 million in 2018 and USD 400-500 million in 2019.

By business branch, revenues from network services in the second quarter of the year were USD 215 million, down 6 percent; media sales were USD 222 million, up 5 percent; and income from government was USD 86.0 million, a decline of 8 percent. As of end-June, the company's  contracted backlog was worth USD 8.2 billion, down from USD 8.5 billion at end-March.

Intelsat said its 35e satellite mission is currently undergoing in-orbit testing and that the planned third-quarter launch of 37e, the fifth satellite in its EpicNG fleet, is the last planned for 2017. By the end of the year, it expects to achieve in-orbit resilience across much of the EpicNG fleet, allowing it to offer new applications for satellite-based services.

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