Today Intelsat reported the results for the three months and six months ended June 30, 2009 with a reported revenue of $642.5 million and a net loss of $32.7 million for the three months ended June 30, 2009. The company also reported Intelsat, Ltd. EBITDAi, or earnings before net interest, loss on early extinguishment of debt, taxes and depreciation and amortization, of $522.4 million, and New Bermuda Adjusted EBITDAi of $502.7 million, or 78 percent of revenue, for the three months ended June 30, 2009.
Intelsat, Ltd. reported revenue of $1.274 billion and a net loss of $590.4 million for the six months ended June 30, 2009. The net loss reflects in part non-cash charges of $499.1 million incurred in the first quarter of 2009 for orbital location impairments. The company also reported Intelsat, Ltd. EBITDA i of $498.1 million and New Bermuda Adjusted EBITDAi of $997.2 million, or 78 percent of revenue, for the six months ended June 30, 2009.
“Intelsat’s record Adjusted EBITDA in the second quarter of 2009 surpassed the $500 million level for the first time, reflecting attractive revenue growth and solid execution on cost management,” said Intelsat CEO Dave McGlade. “Our network services business and Intelsat General Corporation government business are thriving as a result of the demand for the communications infrastructure we provide for applications such as broadband networking, cellular backhaul, and mobility.” “In the second quarter we entered into a significant long-term renewal in our media business, underscoring the value of our satellite neighborhoods and contributing to an increase in our backlog to $9.5 billion at June 30, 2009 from $8.7 billion at the end of the first quarter,” McGlade continued.
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