Intelsat S.A., operator of the world’s first Globalized Network and leader in integrated satellite communications, today announced financial results for the three months ended March 31, 2017.
Intelsat reported total revenue of $538.5 million and net loss attributable to Intelsat S.A. of $34.6 million for the three months ended March 31, 2017.
Intelsat reported EBITDA1, or earnings before net interest, gain on early extinguishment of debt, taxes and depreciation and amortization, of $398.1 million and Adjusted EBITDA1 of $409.8 million, or 76 percent of revenue for the three months ended March 31, 2017.
Intelsat’s Chief Executive Officer, Stephen Spengler, said, “Revenue of $538 million and Adjusted EBITDA of $410 million for the first quarter reflect our continuing business transition as we continue to make progress on the initiatives that will enable new services and create top line growth for our company. Over the course of the first quarter, Intelsat 33e and Intelsat 32e entered into service. Our managed services, IntelsatOne® Flex, are attracting new customers and will begin to generate incremental revenues as these networks activate over the course of 2017.”
Mr. Spengler continued, “Growth in our media business was driven by the two fully-committed satellites placed into service in 2016. While we continue to work through some near-term headwinds, our network services and government businesses are leveraging the higher performance services available from the Intelsat EpicNG network, which is now available on five continents. Backlog as of March 31, 2017 was $8.5 billion.”
Mr. Spengler concluded, “Our proposed conditional merger with OneWeb, which was announced on 28 February, is pending completion of our announced debt exchange transactions and receipt of certain other approvals. We believe the transaction creates a company with greater growth opportunities and a strong financial foundation. Importantly, we will be better positioned to achieve our shared mission to unlock new applications for satellite-based solutions, connecting people and devices everywhere.”