Intelsat hit by first-quarter loss

Satellite operator Intelsat posted a net loss of US$102.6m (€80.8m) on revenues of US$621.1m (down 2%) for the first quarter.

“First quarter 2010 performance was as anticipated in light of the previously reported events that are restraining our growth in the first half of 2010,” said Intelsat CEO, David McGlade. “Our confidence in our business is well-founded.  Our attractive contract backlog, which increased to US$9.5bn at the end of the first quarter, provides stability to our business and visibility into our future revenue streams.”
He said that the company expected an improving growth profile in the second half of the year.


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