Mixed results for Intelsat

Satellite operator Intelsat posted revenues of US$635.3m (€483.2m), down 1% and a net loss of US$180.6m for the quarter to June 30.

The figures for the quarter included a non-cash impairment charge of US$104m to write down the value of the malfunctioning Galaxy 15 satellite, which is expected to shut down in the second half of the year.  The company’s IS-4 satellite, which serves Europe and the Middle East, also experienced an anomaly in the quarter, directly resulting in a decrease in revenues to the amount of US$6.8m.

CEO David McGlade said Intelsat now had an order backlog of US$9.4bn and confirmed that the company expected that its revenue growth profile would improve in the second half of the year.

Intelsat currently has eight new satellites in the pipeline, beginning with Intelsat 17 scheduled for launch later this year to replace Intelsat 702 at 66° East.