News Headline
Intelsat reports $237.2 million revenue, $48.4 million net income at Q3
HAMILTON: Intelsat reported results for the three months and nine months ended 30 September 2003, today. A global satellite communications leader providing services in over 200 countries and territories, reported revenue of $237.2 million and net income of $48.4 million for the quarter.
The company also reported EBITDA, as adjusted, or earnings before interest, other income (expense), taxes and depreciation and amortization, of $172.5 million for the period, says a company release. For the first nine months of 2003, Intelsat reported revenue of $720.6 million and net income of $155.1 million. EBITDA for the nine-month period was $528.7 million.
Third Quarter 2003 Financial Highlights
* Telecommunications revenue of $237.2 million decreased $9.5 million, or 4 percent, from $246.6 million for the three months ended 30 September 2002. For the three months ended 30 September 2003, lease service revenue declined 7 per cent to $148.2 million and channel and carrier service revenue declined 3 per cent to $82.1 million, which includes an offsetting increase in GXS revenue of $7.6 million as compared to the three months ended 30 September 2002.
* Total operating expenses of $165.8 million increased 23 per cent from $134.9 million for the three months ended September 30, 2002.
* The $5.6 million increase in other income during the period includes $4.9 million of income recorded to reflect a reduction in an obligation payable by Intelsat under a share purchase agreement with Teleglobe Inc.
* Net income was $48.4 million, compared with $82.4 million for the third quarter in the prior year.
* EBITDA, as adjusted, was $172.5 million, or 73 per cent of revenue, down from $200.9 million, or 81 per cent of revenue, for the same period in 2002.
Other Financial Highlights
” Free cash flow from operations was $284.3 million for the nine months ended 30 September 2003, an increase of $252.7 million over the first nine months of 2002.
” Intelsat’s backlog at 30 September 2003, representing expected future cash payments to be received from customers under contract, was $3.7 billion, as compared to $3.8 billion in backlog at 30 June 30, 2003.
Intelsat executive vice president and chief financial officer Joe Corbett offered: “Although market conditions and the competitive environment pose challenges in terms of our revenue, we remain focused on delivering strong operating margins and free cash flow from operations. We continue to project that our revenue decline in 2003 will be of smaller proportions than that experienced in the prior year.”
Intelsat chief executive officer Conny Kullman said, “Our revenue for the quarter reflects the relatively flat conditions of the telecommunications services market; however, we continue to produce solid financial results. With the capital expense associated with our fleet renewal program nearly complete, our year-to-date free cash flow from operations of $284 million is eight times that of the same period in 2002.” “The bankruptcy court auction process for Loral’s North American satellite assets is currently set to conclude this week. We now await the judge’s approval of the sale of the assets. If successful, we will move to complete the regulatory process quickly and close the transaction as soon as possible, providing a smooth and efficient transition for the customers on these satellites,” he added.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
