YOY revenues and profits slip for Intelsat Q3
| 31 October 2014
The third quarter of 2014 for leading satellite provider Intelsat was somewhat disappointing compared with the same quarter a year ago according to the company's latest set of financial results.
For the three months ended 30 September 2014, Intelsat reported revenue of $608.6 million and net income of $67.6 million, which compared with $652 million and $88 million respectively for the same period in 2013.
Media comprised 36% of the company's revenue for the quarter ended September 30, 2014, and at $216.1 million, declined 3% as compared with the third quarter of 2013.
Commenting on the results Intelsat chairman and CEO, Dave McGlade, said: "While our third quarter revenue of $609 million reflects the current environments...we continue to demonstrate our ability to deliver attractive adjusted EBITDA margins. At $485 million, or nearly 80% of revenue, our robust margins contribute to strong cash flow generation...We are working on critical elements of our service offerings to ensure that we have access to unique technologies and capabilities that will enable new services on our [satellite network]. These services will position us to address much larger end-markets than today, particularly in the areas of broadband infrastructure, mobility and new media applications."