Intelsat Reports US$54.7 Mil. Net Income In Q1 2015
- First quarter revenue of $602.3 million
- First quarter net income attributable to Intelsat S.A. of $54.7 million
- Net income per diluted common share of $0.47; Adjusted net income per diluted common share of $0.69
- EBITDA of $460.5 million and Adjusted EBITDA of $470.5 million, or 78 percent of revenue
- $9.7 billion contracted backlog provides visibility for future revenue and cash flow
- Launch schedule for Intelsat EpicNG® program and other satellites unchanged
- Intelsat reaffirms its 2015 financial outlook
Intelsat S.A. (NYSE: I), the world’s leading provider of satellite services, today reported total revenue of $602.3 million and net income attributable to Intelsat S.A. of $54.7 million, or $0.47 per common share on a diluted basis, for the three months ended March 31, 2015. The company reported adjusted net income per diluted common share1 of $0.69 for the three months ended March 31, 2015.
Intelsat S.A. reported EBITDA1, or earnings before net interest, and depreciation and amortization, of $460.5 million, or 76 percent of revenue, and Adjusted EBITDA1 of $470.5 million, or 78 percent of revenue, for the three months ended March 31, 2015.
Intelsat CEO, Stephen Spengler, said, “Overall, with revenues of $602 million, our business is performing to our 2015 expectations, with each customer set making progress on long-term goals in the first quarter. Our network services business continues to capitalize on growth in the mobility sector, with new service starts in the period. Network services also signed a sizeable contract from an existing customer that will transition to our next generation Intelsat EpicNG platform. Our recently deployed Intelsat 30 satellite supported renewed growth in our media business. Lastly, our government business continued to earn its share of new and renewed contracts.
Spengler continued, “One of our top priorities in 2015 is delivering capacity for launch. Of our satellites expected to launch over the next 12 months, our Intelsat 34, Intelsat 29e and Intelsat 31 satellite programs remain on schedule. With solid progress on our other priorities, such as ecosystem development and the introduction of new services, we are executing on our plan to create long-term growth.”