Intelsat (I) has reported 150.86 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $195.62 million, or $1.65 a share in the quarter, compared with $77.98 million, or $0.66 a share for the same period last year. Revenue during the quarter dropped 6.56 percent to $542.73 million from $580.85 million in the previous year period. Gross margin for the quarter contracted 288 basis points over the previous year period to 83.70 percent. Total expenses were 59.39 percent of quarterly revenues, up from 50.93 percent for the same period last year. That has resulted in a contraction of 845 basis points in operating margin to 40.61 percent.
Operating income for the quarter was $220.41 million, compared with $285 million in the previous year period.
Operating cash flow drops significantlyIntelsat has generated cash of $596 million from operating activities during the nine month period, down 31.62 percent or $275.59 million, when compared with the last year period. The company has spent $631.15 million cash to meet investing activities during the nine month period as against cash outgo of $576.72 million in the last year period.
Cash flow from financing activities was $820.76 million for the nine month period as against cash outgo of $78.28 million in the last year period.
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