Intelsat says that it is targeting a renewed global demand for satellite services. The company reported revenue of $543.2 million and a net loss of $63.4 million for the quarter ending December 31, 2006 and annual revenues of $1.7 billion and a net loss of $368.7 million. The loss includes an asset impairment charge after the anomaly experienced by the Intelsat 802 satellite last September and restructuring costs of $26.5 billion related to the PanAmSat acquisition.
“2006 was highly productive with regard to Intelsat’s operating performance and strategic objectives,” said Intelsat CEO David McGlade, CEO. “We ended the year with an $8.1 billion revenue backlog that reflects an increasing concentration of long-term contracts for video applications contributed by the PanAmSat Acquisition, and the integration continues to progress on schedule.” He said the company was experiencing increased demand in almost every region.
McGlade’s statement was backed up by an increase in lease revenue that increased by $217.6 million to $412.2 million for the three months ended December 31, 2006 when compared for the last three months of 2005. While much of the growth can be attributed to the PanAmSat acquisition $17.3 million came from new business.