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Intelsat reports Q4 loss of US$90m
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Intelsat reported revenue of US$538.1 million, adjusted EBITDA of US$416 million and a net loss of US$90.0 million in its fourth quarter.
Announcing the results, Intelsat CEO Stephen Spengler said that the revenue and adjusted EBITDA figures were in line with the company’s 2017 annual guidance.
“In delivering on our expectation for Adjusted EBITDA for the year, we demonstrated our discipline with respect to expenses and managing cash flows,” said Spengler.
“Our business results, combined with the successful extension of our US$3.1 billion secured term loan maturity to 2023 and 2024, provide a solid foundation as we implement our 2018 business plan.”
For the three months ending December 31, 2017, Intelsat’s revenues were down 2% year-on-year. The US$90.0 million loss compares to net income of US$662.8 million for the same period in 2016, during which Intelsat recognised a US$679.1 million gain on “extinguishment of debt”.
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