Intelsat first-quarter revenues up but losses widen

Satellite operator Intelsat has posted first-quarter revenues of US$640.2 million (€446 million), up 3%, and a net loss of US$215.6 million, up from a net loss of US$102.6 million for the same period last year.

“Intelsat delivered solid 3% revenue growth in the first quarter of 2011 and also progressed on initiatives that position the company for long-term profitable growth,” said Intelsat CEO David McGlade. “The quarter featured the addition of leading programmers to our regional video neighbourhoods, new strategic agreements with large African and Latin American communications providers, and increased orders under large government programs at our Intelsat General Corporation business.  We ended the quarter with US$9.9 billion in contracted services backlog, underscoring the stability and visibility inherent in our business.”

Intelsat plans to launch a further seven satellites between now and the end of 2012.