Bermuda-based Intelsat posts 3Q net loss of USD179m

14 Nov 2008

Bermuda-registered satellite network operator Intelsat has posted net losses of USD179 million for the third quarter of 2008, compared to a net loss of USD42.5 million in the same period last year, BNamericas writes citing a company statement. Intelsat’s revenues for the period under review were USD598 million, up 10% year-on-year from USD546 million. Third quarter EBITDA was USD406 million, broadly unchanged from USD404 million a year ago, it said. Commenting on the results the satellite operator’s CEO Dave McGlade said ‘Given the uncertain economic environment, we are operating with a heightened awareness of the potential impacts to our business, and thus are carefully monitoring our key performance indicators.’ He added that the company is currently working on five satellite projects. Intelsat expects CAPEX for 2008 will total USD480-USD500 million.

Bermuda, Intelsat