News Headline
Panamsat successfully completes turnaround year
CONNECTICUT: PanAmSat, the premier provider of global video and data broadcasting services via satellite has reported revenues of $812.3 million for the year ended 31 December 2002.
The company has posted earnings before net interest expense, income taxes, depreciation and amortization (EBITDA) of $591.6 million, free cash flow of $460.9 million and earnings per share (EPS) of $0.57 which was a nearly three-fold increase over last year.
For the fourth quarter ended 31 December 2002, the company generated revenues of $196.8 million, EBITDA of $144.4 million and earnings per share of $0.16.
Business highlights for the year included:
– Completion of a turnaround beginning in mid-2001 resulting in an increase in EBITDA and EPS last year despite lower revenues, a 24 per cent reduction in operating costs, a 13 per cent reduction in capital expenditures and a 37 per cent increase in free cash flow to $460.9 million;
– Completion of a $2 billion, seven-satellite fleet modernisation programme resulting in one of the industry’s youngest and most modern fleets;
– Formation of one of the sector’s most powerful and far-reaching satellite networks through expanded relationships with British Telecom, JSAT and others; and creation of one of the industry’s strongest customer portfolios with an end-of-year backlog of $5.55 billion by focusing on partnering with customers to expand products and service offerings.
Panamsat CEO Joe Wright has said that in 2003, the company’s focus will be on continued profitability and growth. “Our growth strategy will not rely on one transaction or the launch of a new satellite or technology. We are coming at it from many angles. Part one – consolidation. Clearly, consolidation is occurring in this industry and PanAmSat is looking at these opportunities. Part two – service expansion. In 2003, PanAmSat will expand its efforts in areas such as Government Services, Digital Services and Hybrid Networks.
Part three – technology development. We’ll be introducing new ways of transmitting content seamlessly across our network, while also increasing our exploration of emerging technologies such as video-on-demand, HDTV, the integration of fiber/satellite/wireless technologies and broadband over satellite. These and many other initiatives will enable the delivery of even greater services to our customers and even more value to our shareholders over the long-term, ” he said.
The company expects total revenues for the first quarter of 2003 to be in the range of $190 million to $200 million, with no new sales or sales-type leases. The company expects that 2003 total revenues will be in the range of $790 million to $820 million, with no new sales or sales-type leases.
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.
