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Tag: Galaxy XII

  • Panamsat claims increased earnings, reduced debt in 2Q 2003

    CONNECTICUT: Panamsat, which claims to be one of the world’s top three satellite operators managing a global fleet of 30 satellites, has reported its financial results for the second quarter and six months ended 30 June 2003.
    In the second quarter, the company generated revenues of $203.6 million compared to $209.2 million in the second quarter of 2002; and increased earnings per share (EPS) to $0.20 versus $0.13 in the same period last year.
    For the first six months of the year, total revenues were $403.3 million compared to $416.4 million in 2002 and EPS was $0.41 per share compared to $0.27 per share for the same period in 2002.
    Business highlights of the second quarter of 2003 included:
    – Solid financial results for the eighth consecutive quarter with growth in EPS of 54 per cent for the second quarter and 52 per cent for the first half of 2003 versus the same periods in 2002.
    – The continued strong free cash flow enabled the pre-payment from cash on-hand of $350 million of the company’s long-term debt on 14 July. This brought the total debt reduction in 2003 to $550 million with remaining cash and short-term investments of over $500 million and an unused credit line of an additional $250 million.
    The company continued modernisation of the fleet with the launch of Galaxy XII. This is the first of a smaller, more versatile and robust set of C-band satellites that claims to provide excellent in-orbit protection; as well as support emerging technologies and video services – such as HDTV and expanded Homeland Security applications. The company claims that its fleet had one of the industry’s top reliability records in 2002 with a rating of 99.99 per cent.
    Speaking on the performance Panamsat president and CEO Joe Wright said: “We continue to reduce our cost base and, as a result, are able to record a meaningful increase in earnings and make a substantial pre-payment on our debt. All these actions position the company for continued future profitability today and even more so when the markets improve.”
    “Panamsat is performing well and continues to be as strong as it has ever been. In a weak market, we have had earnings increases every quarter. While our competitors keep adding more satellite capacity, we are taking the next step by combining the best aspects of satellite and fibre networks. While others are increasing debt, we are reducing ours. In addition, we are able to successfully manage challenges with our fleet resulting in no customer impact and minimal financial offset,” Wright adds.

  • INSAT-3A to be launched from French Guyana 9 April

    INSAT-3A to be launched from French Guyana 9 April

    MUMBAI: India’s latest satellite INSAT-3A, will be launched by the Ariane-5 vehicle of European Space Consortium Arianespace in the early hours of 9 April from Kourou in French Guyana, South America.
     
     
    The spacecraft, which weighs 2958-kg, is a multipurpose one for providing telecommunication, television broadcasting, meteorology and satellite aided search and rescue services. It carries 12 C-band, six upper extended C-band, six Ku-band and one search and rescue transponder.

    The meteorological instruments consist of a Very High Resolution Radiometer, a Charge Coupled Device camera and a data relay transponder. The Ariane 5 for Flight 160 became a complete launch vehicle after the “topping off” activity in the Spaceport’s final assembly building which took place on Tuesday.

    Besides the INSAT 3A satellite, the launcher’s upper section is composed of the SYLDA 5 multiple payload deployment system. On Tuesday the upper section was positioned over the GALAXY XII spacecraft, which was integrated on the launcher on 31 March.