Satellite operator Intelsat has posted a small year-on-year increase in revenue for the first quarter. The company’s sales for the three months to March totalled US$655.1 million (€498.9 million), up 2%.
Intelsat posted a loss of US$7.8 million for the period and EBITDA of US496.8 million. The company’s contracted backlog at the end of March amounted to US$10.4 billion.
“Total revenue grew 2% in the first quarter of 2013, as compared to the year-earlier quarter. On-network revenue grew 4% in the period, reflecting solid demand for transponder services and the benefit of refreshed video neighborhood capacity and mobility capacity provided by our 2012 launch campaign,” said CEO David McGlade. “In addition, managed services revenue increased, reflecting demand for our global hybrid infrastructure of terrestrial and satellite capacity, particularly for mobility applications for network services customers. New customer and renewal activity remains steady, and our backlog, at $10.4 billion, offers visibility into future revenue trends.”
Intelsat launched its IPO in April this year. McGlade said that the funds raised by the stock offerings, combined with interest savings from recent debt refinancing would “begin a positive cycle of de-leveraging that we believe will enhance the equity value we create for our stakeholders”.