Intelsat Reports Second Quarter 2014 Results
Washington, D.C., August 4, 2014--Intelsat S.A. today reported total revenue of US$ 615.7 million and net income attributable to Intelsat S.A. of US$ 66.8 million, or $0.53 per common share on a diluted basis, for the three months ended June 30, 2014. The company reported adjusted net income per diluted common share1 of $0.76 for the quarter.
Intelsat S.A. reported EBITDA, or earnings before net interest, taxes and depreciation and amortization, of US$ 485.5 million, or 79 percent of revenue, and Adjusted EBITDA of US$ 490.4 million, or 80 percent of revenue, for the three months ended June 30, 2014.
Intelsat CEO Dave McGlade, said, "In the second quarter, we performed in line with our expectations, delivering strong Adjusted EBITDA margins and making solid progress against our long-term business strategy and equity thesis. We remain focused on working with our blue chip customers to provide them with satellite-based infrastructure that supports their business growth. During the quarter we announced a new satellite program with direct-to-home ("DTH") operator, MultiChoice, as the anchor customer. The 15-year agreement expands our relationship with the leading pay television operator in Africa, and positions us for long-term growth. We ended the second quarter of 2014 with a contracted backlog of $10.3 billion, providing visibility into revenue and cash flow."
McGlade continued, "Our satellite programs remain on track, with Intelsat 30 expected to launch in the fourth quarter. With the benefits of strong Adjusted EBITDA margins, lower than average lifecycle capital expenditures and reduced interest costs producing strong cash flows, we continue to demonstrate progress on the first phase of our two-phase investment thesis. Today, we have raised our Adjusted EBITDA margin guidance and increased the target to de-lever our balance sheet in 2014 to approximately US $475 million."
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