Satellite services provider Intelsat, headquartered in Luxembourg, yesterday reported a total revenue of $580.8 million and net income attributable to Intelsat S.A. of $78.0 million, or $0.66 per common share on a diluted basis, for the three months ended 30 September 2015.
Intelsat reported adjusted net income per diluted common share of $0.85 for the third quarter of 2015. The company stated its EBITDA, or earnings before net interest, taxes and depreciation and amortisation, stood at $453.0 million, or 78% of reveue, and Adjusted EBITDA of $458.1 million, or 79% of revenue for the same period.
"Intelsat continues to make meaningful progress as we position the company for long term growth, leveraging our new high throughput capacity and introducing new services to address the $3.0 billion of incremental demand for satellite solutions expected over the next five years," commented Intelsat CEO, Stephen Spengler. "The first launch of our next generation fleet is just months away. Since 1 July 2015, Intelsat has signed six additional contracts on the Intelsat EpicNG platform. These contracts span applications including enterprise, fixed and wireless infrastructure, media and mobility. Of the contracts we are disclosing today, one in particular represents a signficant commitment by a global provider of broadband services that focuses on markets including the energy, government and cruise industries. This contract is the largest single commitment for broadband infrastructure ever received by Intelsat".
Network Services comprised 45% of Intelsat's total revenue for the quarter ended 30 September 2015 and at $263.1 million were found to have decreased 9% as compared to the third quarter of 2014. Media in turn comprised 37% of the Intelsat's total revenue for the quarter, showing a slight increase compared to the third quarter of 2014 at $216.6 million. Government composed 16% of Intelsat's total revenue for the last quarter, which decreased 3% compared with the third quarter of last year to $94.7 million.
Spengler continued: "Our results are in line with our overall expectations for 2015, with third quarter revenue of $581 million reflecting the near-term trajectories of each of our network services, media and government businesses, and Adjusted EBITDA of $458 million, or 79 percent of revenue demonstrating our continued financial discipline. As a result, today we are reaffirming our guidance for 2015 revenue, Adjusted EBITDA and capital expenditures".
"As we execute operational priorities, our top focus is placing new satellites in service," added Spengler. "Our Intelsat 34 satellite, which was launched in August 2015, entered service earlier this month, providing revenue continuit and growth for our media customers in Latin America and building our inventory for mobility applications over the Atlantic."
He concluded: "We have an active campaign to dramatically enhance our inventory next year as we expect to launch two media satellites, two Intelsat EpicNG satellites and an Intelsat EpicNG payload. The schedule for our launch programme remains unchanged. As our next generation Intelsat EpicNG satellites begin entering service, inventory will further expand, supporting higher growth applications and service offerings that provide higher performance, better economics and acceleraed market entry for our customers. A prime example of these services is IntelsatOne Flex, which we recently introduced for the mobility sector".
