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05 December, 2023 21:24 IST
Intelsat swings to first-quarter loss on a YOY basis
Source: IRIS | 26 Jun, 2017, 02.16PM

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Intelsat S.A. (I) swung to a net loss for the quarter ended Mar. 31, 2017. The company has made a net loss of $34.57 million, or $ 0.29 a share in the quarter, against a net profit of $15.33 million, or $0.13 a share in the last year period.      

Revenue during the quarter went down marginally by 2.56 percent to $538.48 million from $552.64 million in the previous year period. Gross margin for the quarter expanded 14 basis points over the previous year period to 84.32 percent. Total expenses were 59.59 percent of quarterly revenues, up from 56.72 percent for the same period last year. That has resulted in a contraction of 287 basis points in operating margin to 40.41 percent.

Operating income for the quarter was $217.60 million, compared with $239.17 million in the previous year period.

Intelsatā€™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, IntelsatOneĀ® Flex, are attracting new customers and will begin to generate incremental revenues as these networks activate over the course of 2017."

Intelsat projects revenue to be in the range of $2,180 million to $2,225 million for financial year 2017.                                              Operating cash flow drops significantly 

Intelsat S.A. has generated cash of $178.36 million from operating activities during the quarter, down 49.49 percent or $ 174.77 million, when compared with the last year period.

The company has spent $197.50 million cash to meet investing activities during the quarter as against cash outgo of $231.63 million in the last year period.

The company has spent $24.91 million cash to carry out financing activities during the quarter as against cash inflow of $1,222.04 million in the last year period.

 

Cash and cash equivalents stood at stood at $622.68 million as at Mar. 31, 2017.

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