Intelsat reported results for the nine months ended 30 September 2005.
It had revenue of $876.6 million (up 15 per cent) and a net loss of $259.6 million. EBITDA for the nine-month period was $461.1 million, and covenant EBITDA was $616.9 million.
“Intelsats performance in lease services and managed solutions provides improved balance given the continued expected run-off in contracted channel revenue, and operating costs are now reflecting the changes we implemented earlier this year,” said Intelsat CEO David McGlade. “Meanwhile, we are working diligently on securing the necessary approvals for our planned merger with PanAmSat.”
In the summer the companies agreed a takeover valuing PanAmSat at $3.2bn.