News Analysis

Export Credit: Helping the Long Tail of the Satellite Industry

by Rajiv Hazaray and Carter Lawson

Princeton, NJ,  March 5, 2013--The launch of the first commercial communications satellite (Intelsat1, nicknamed “Early Bird”) on 06 April 1965, the commercial satellite industry has seen declining technology risks but still remains fraught with many business risks. It is a capital-intensive industry with high barriers to entry. An aspiring satellite operator faces the difficult decision of investing hundreds of millions of dollars up to three years before the satellite takes its flight and stabilizes in its orbital slot. After a successful launch, the operator will need to recover his investment during next 15 years before the satellite consumes all the fuel onboard and starts its uncontrollable and destined wobble.

Intelsat Reports Loss of $146.6 million on revenue of $2.6 billion in 2012

Washington, D.C., February 28, 2013 — Intelsat S.A. reported it suffered a net loss of $146.6 million on revenue of $2,610.2 million in 2012. The company reported EBITDA of $1,940.6 million, and Adjusted EBITDA of $2,016.5 million, or 77 percent of revenue, for 2012. 

Full text available to subscribers only

MDA reports full year and fourth quarter 2012 results

Richmond, BC, Canada, February 27, 2013 - MacDonald, Dettwiler and Associates Ltd. (MDA) reported financial results for the full year and fourth quarter ended December 31, 2012.  Consolidated revenues for the full year 2012 increased to $880 million compared to $761 million for the year ended  December 31, 2011.

Full text available to subscribers only

Telesat Sales up but Profit Falls by US$ 206 million

Ottawa,Canada,  Feb. 21, 2013 — Telesat Holdings Inc. reported on Thursday a US$ 206 million (Ca$ 210) decrease in profitability, which the company blamed on a large one-time insurance claim it received last year.

Full text available to subscribers only

EchoStar Reports Fourth Quarter And Fiscal Year 2012 Financial Results

Englewood, Colo. Feb. 20, 2013--EchoStar Corporation today reported total revenue of US$ 786 million for the quarter ended Dec. 31, 2012 compared to US$ 834 million for the corresponding period in 2011. Total revenue for the fiscal year ending Dec. 31, 2012 is US$ 3,122 million compared to US$ 2,761 million for the corresponding period in 2011.

Full text available to subscribers only

Orbital Reports Growth in Revenues and Operating Results

Dulles, Va., February 14, 2013— Orbital Sciences Corporation today reported its fourth quarter and full year 2012 financial results.  Fourth quarter 2012 revenues were $354.6 million, up 6% compared to $335.5 million in the fourth quarter of 2011.  Fourth quarter 2012 operating income was $31.3 million, an increase of 41% compared to $22.2 million in the fourth quarter of 2011.  

Full text available to subscribers only

Sea Launch Future Dims Further with Lawsuit

by Peter Galace, Associate Editor

Long Beach, Calif., February 15, 2013 — Following the unsuccessful launch of the Intelsat 27 spacecraft on February 1, 2013, majority owner RSC Energia affirmed last week its unfailing commitment to the long-term success of the Sea Launch program. But despite the assurances from the Sea Launch partners, the company faces grim prospects. In addition to its difficulty to now secure launch contracts necessary for its survival, the company also faces a big lawsuit that could dampen prospects of Sea Launch’s emergence from bankruptcy.

Full text available to subscribers only

DirecTV Reports Improved 4Q 2012 Results

EL SEGUNDO, Calif., February 14, 2013—DirecTV reported on Thursday an increase in fourth quarter net income by 31% to $942 million mainly due to addition of  761,000 new subscribers mostly from Latin America.

Full text available to subscribers only

GE Sells Remaining Stake in NBCUniversal Joint Venture and Related Assets to Comcast for $18.1B

Fairfield, Conn., February 13, 2013--GE announced today the sale of its remaining 49% common equity interest in its joint venture with Comcast, which includes NBCUniversal (NBCU), as well as the NBCU floors in 30 Rockefeller Center, for $18.1 billion.

Full text available to subscribers only

Globecomm Reports Slight Drop in Net Income to $6.5 million for first half of fiscal 2013

Hauppauge, New York, February 7, 2013 — Globecomm Systems, Inc. reported a 3.2% decline in revenues to $160.9 million for fiscal 2013 six months ended December 31, 2012 compared to $166.2 million in the same period last year.

Full text available to subscribers only