Intelsat Releases Financial Report/Future Plans
March 9, 2012
Intelsat reported its Fourth Quarter and Full Year 2011 Results earlier this month.
Intelsat CEO Dave McGlade said, "Intelsat delivered steady performance in 2011, led by our government and media businesses, which produced full-year growth of seven percent and four percent, respectively, on applications including aeronautical and maritime broadband and direct-to-home (DTH) television."
He acknowledged problems with the Intelsat New Dawn satellite limited revenue growth in Intelsat's network services division. The report notes that the New Dawn joint venture received all of the $118.0 million insurance recoveries sought under a partial loss claim filed with insurers.
Intelsat is planning to launch Intelsat 22 later this month. Intelsat 19 is expected to be launched in the second quarter of this year.
"In 2012 we will take major steps in bringing new and refreshed capacity to our network, including the planned launches of five satellites that are targeted to support higher-demand applications in growing regions," McGlade said.