Intelsat Report 1st Quarter 2015 Results
Washington, D.C., May 1, 2015--Intelsat S.A. (NYSE: I) reported total revenue of US$ 602.3 million and net income attributable to Intelsat S.A. of US$ 54.7 million, or $0.47 per common share on a diluted basis, for the three months ended March 31, 2015.
The company reported adjusted net income per diluted common share1 of $0.69 for the three months ended March 31, 2015. Intelsat S.A. reported EBITDA, or earnings before net interest, taxes and depreciation and amortization, of US$ 460.5 million, or 76 percent of revenue, and Adjusted EBITDA of US$470.5 million, or 78 percent of revenue, for the three months ended March 31, 2015.
Intelsat CEO, Stephen Spengler, said, “Overall, with revenues of US$ 602 million, our business is performing to our 2015 expectations, with each customer set making progress on long-term goals in the first quarter. Our network services business continues to capitalize on growth in the mobility sector, with new service starts in the period. Network services also signed a sizeable contract from an existing customer that will transition to our next generation Intelsat EpicNG platform. Our recently deployed Intelsat 30 satellite supported renewed growth in our media business. Lastly, our government business continued to earn its share of new and renewed contracts.
Spengler continued, “One of our top priorities in 2015 is delivering capacity for launch. Of our satellites expected to launch over the next 12 months, our Intelsat 34, Intelsat 29e and Intelsat 31 satellite programs remain on schedule. With solid progress on our other priorities, such as ecosystem development and the introduction of new services, we are executing on our plan to create long-term growth.”
Network Services comprised 46 percent of Intelsat’s total first quarter 2015 revenue, and at US$ 276.6 million, decreased 5 percent as compared to the first quarter of 2014. Media comprised 37 percent of the company’s revenue for the quarter ended March 31, 2015, and at US$ 224.8 million, increased 1 percent as compared to the first quarter of 2014. Government comprised 16 percent of our revenue for the quarter ended March 31, 2015, and at US$ 94.8 million, decreased 13 percent as compared to the first quarter of 2014.
Average Fill Rate Intelsat’s average fill rate on our approximately 2,200 station-kept transponders was 75 percent at March 31, 2015, as compared to 77 percent at the end of the first quarter of 2014. Units under contract declined primarily due to decreases in government and Africa customer usage.
Intelsat’s contracted backlog, representing expected future revenue under existing contracts with customers, was US$ 9.7 billion, as compared to US$ 10.0 billion at December 31, 2014.
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