New Skies reports marginal increase in 1Q revenues

NETHERLANDS: Global satellite communications company New Skies Satellites has reported revenues of $ 52 million for the three month period ended 31 March 2003.

The revenues represent an increase of $0.2 million as compared to $51.8 million for the same period last year. Operating expenses, excluding depreciation, decreased by $0.2 million from $23.2 million to $23.0 million for the three-month period ended March 31, 2003. The company has stated that this decrease reflects its success in managing costs incurred in response to the difficult business climate. .

Net income for the period was $3.6 million compared to a net loss of $17.0 million in the same period last year.

The first quarter operating highlights include

New Skies and Intelsat Global Sales & Marketing, Ltd signed an agreement during the quarter to use their existing orbital and satellite resources at a single orbital location to expand their respective commercial service offerings to the Americas, Europe, Africa and the Middle East.

BT Broadcast Services doubled their capacity on the NSS-7 satellite to support the expanding Media Overseas direct-to-home television platform servicing West Africa.

Commenting on the quarter, New Skies CEO Dan Goldberg said, "The NSS-7 and NSS-6 satellites launched last year allowed us to augment our fleet with new and desirable capacity, and have attracted a number of key customers. Although we expect this capacity to drive our growth and profitability going forward, the addition of these satellites entails higher depreciation costs in comparison to prior periods.

New Skies Satellites is one of only four fixed satellite communications companies with truly global satellite coverage, offering video, voice, data and Internet communications services to a range of telecommunications carriers, broadcasters, large corporations and Internet service providers around the world. New Skies has six satellites in orbit, ground facilities around the world and one additional spacecraft under construction. The company also has secured certain rights to make use of additional orbital positions for future growth.

New Skies is headquartered in The Hague, The Netherlands, and has offices in New Delhi, Beijing, Hong Kong, Johannesburg, Sao Paulo, Singapore, Sydney and Washington, D.C.


Latest Reads
Maha Cartoon targets 65 per cent rural HSM via DD FreeDish, 2000 LCOs

Who can forget the Charlie Chaplin show which entertained the world audience of all ages. Maha Cartoon, the first free-to-air (FTA) Hindi cartoon channel targeted at the Hindi-speaking markets (HSM), will be launched on India's largest DTH platform DD FreeDish on 1 November. The new Maha Cartoon...

Television TV Channels Kids
Vikram Chandra steps down; KVL Narayan Rao is new NDTV group CEO

The rumours that were making rounds of Vikram Chandra quitting NDTV have now been put to rest.

Television TV Channels People
Naagin helps Colors capture top position this week: BARC

Backed by Naagin Season 2, Colors was almost close to Star Plus to get the number one position, but, this week, Colors went few steps ahead and grabbed the leadership position and replaced Star Plus in week 42. Even in Urban GECs market, Colors toppled Star and took over the number one position.

Television TV Channels Viewership
SPN India to broadcast Barclays ATP World Tour finals

Sony Pictures Networks India (SPN) will exclusively broadcast the upcoming ATP events in the month of November. The ATP 1000 Paris Masters will be aired live on Sony ESPN channels and will be streamed live on SonyLIV app and website. The ATP 1000 Paris Masters in Paris will begin on 31 October.

Television TV Channels Sports
Hunt for Zee Business head continues

MUMBAI: Zee Business, an arm of Zee Media Corporation, has seen several transitions in its management this year. The channel was initially headed by Amish Devgan, who decided to move away after serving for 14 years. It was then led by Zee Media Corporation’s then CEO for content Samir Ahluwalia,who...

Television TV Channels People
'King' content will take over monopolistic media entities, says Arnab Goswami

NEW DELHI: The future of news lies in breaking away from the interdependence of politicians and the media on each other.

Television TV Channels News Broadcasting
Animated 'Ramayana' a global Diwali gift on web, mobile

NEW DELHI: Thirty episodes of the animated series Ramayana will be available around the world on the nexGTv web and mobile platforms during Diwali.

Television TV Shows Animation
Sports Minister lauds b'casters, other stakeholders in promoting sports

NEW DELHI: India’s Sports Minister Vijay Goel said on Wednesday that digital media broadcasting will play a critical role in bringing about change in sports broadcasting in India but broadcasters must also focus on how sports as a product is delivered to audiences in rural areas so as to popularise...

Television TV Channels Sports
Know your karma on IBN7 with 'Karm Path'

In an attempt to give its viewers a refreshing start of the day, IBN7 is launching a new show titled Karm Path. Starting 27 October, the show will predict what the day holds. The show is a differentiator in its own genre as it connotes the supremacy of deeds over destiny.

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories