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Intelsat Reports Fourth Quarter and Full Year 2011 Results

1 March 2012

 

Intelsat S.A., reported results for the three months and year ended December 31, 2011. Intelsat S.A. reported revenue of $652.9 million and a net loss of $3.5 million for the three months ended December 31, 2011. The company also reported Intelsat S.A. EBITDAi, or earnings before net interest, loss on early extinguishment of debt, taxes and depreciation and amortization, of $495.5 million, and Intelsat S.A. Adjusted EBITDAi of $514.6 million, or 79 percent of revenue, for the three months ended December 31, 2011.

 

Intelsat S.A. also reported revenue of $2.6 billion and a net loss of $432.9 million for the year ended December 31, 2011. The net loss includes a $326.2 million pre-tax non-recurring charge for loss on early extinguishment of debt resulting from refinancing activity. The company also reported Intelsat S.A. EBITDA of $1.9 billion and Intelsat S.A. Adjusted EBITDA of $2.0 billion, or 78 percent of revenue, for the year ended December 31, 2011.

 

Intelsat CEO Dave McGlade stated, "Intelsat delivered steady performance in 2011, led by our government and media businesses, which produced full-year growth of 7 percent and 4 percent, respectively, on applications including aeronautical and maritime broadband and direct-to-home (DTH) television. This growth was countered by regional dynamics in Asia Pacific and Africa, and events, including the May 2011 Intelsat New Dawn satellite anomaly, which limited revenue growth in our network services business. In total, we completed 2011 with record revenue, which grew 2 percent for the year, and we continued to generate strong Adjusted EBITDA margin. We had solid new business and renewal momentum as we ended the year, with $10.7 billion in contracted backlog at December 31, 2011, providing good visibility into future cash flow.

 

"In 2012 we will take major steps in bringing new and refreshed capacity to our network, including the planned launches of five satellites that are targeted to support higher-demand applications in growing regions," continued McGlade. "Our fleet investment program is focused on building network infrastructure that delivers the advanced technologies and high bandwidth that will support our customers as they enhance their competitiveness and enter new markets."