Intelsat Reports First Quarter 2016 Results
Tysons Corner, Va, April 28, 2016--Intelsat S.A. (NYSE: I) powered by its satellite backbone, today announced financial results for the three months ended March 31, 2016.Intelsat reported total revenues of US$ 552.6 million for the three months ended March 31, 2016. Net income attributable to Intelsat was US$ 15.3 million, or US$ 0.13 per share on a diluted basis for the three months ended March 31, 2016. The company reported that adjusted net income per diluted common share was $0.31 for the same period.
Intelsat reported EBITDA, or earnings before net interest, taxes and depreciation and amortization, of US$ 407.5 million and adjusted EBITDA of US$ 417.7 million, or 76 percent of revenue for the three months ended March 31, 2016.
Intelsat Chief Executive Officer, Stephen Spengler said, “The Intelsat 29e spacecraft, after undergoing comprehensive in-orbit testing, arrived on station several weeks ago. We are pleased to report that the performance is surpassing our design objectives. The tests demonstrate improved throughput on current generation platforms, delivering immediate efficiency benefits to our customers. Tests on next generation networking platforms indicate throughput improvements of up to 2.5 times above the efficiency of wide beam capacity and current platforms, demonstrating the increased value of Intelsat Epic. The performance, improved economics and simple access of Intelsat Epic target higher volume applications than are served by the satellite sector today, including private enterprise networks, wireless infrastructure, government and mobility. We continue with the development of our Intelsat Epic managed service offerings, known as IntelsatOne Flex, for the mobility and enterprise sectors, to make it easier to incorporate high throughput satellite services into the rapidly expanding global operations of our customers.
“With U$ 553 million in revenue and $418 million in Adjusted EBITDA, our first quarter financial results, as well as our operational progress in the period, support our objectives for 2016,” continued Spengler. “Performance by customer set reflects a continuation of trends that began in the second half of 2015; these trends should begin to be offset as our new capacity enters service over the balance of this year. To that end, our launch and in-service timelines remain largely on track, with a short in-service delay of three weeks for our Intelsat 31 satellite program,” he continued.
Spengler added, “Our backlog continues to provide the visibility into future revenue and cash flows that allows us to invest in our fleet and pursue our long-term business strategy. Backlog at March 31, 2016 was US$ 9.3 billion, over four times annual revenue.”
Related Articles
Intelsat Promotes Skot Butler to President of Intelsat General Corporation
