Television

Panamsat reports Q3 financial result; marginally higher than last year

WILTON: Last week Panamsat reported its financial results for the third quarter and nine months, which ended 30 September 2003. In the third quarter, the company generated revenues of $210.1 million compared to $199.1 million in the third quarter of 2002. The earnings per share (EPS) of $0.14 however equaled that of last years Q3.

For the first nine months of 2003, total revenues were $613.4 million compared to $615.5 million in 2002 and EPS was $0.55 per share compared to $0.41 per share for the same period in 2002, says a company release.

According to Panamsat president and CEO Joe Wright, "It continues to be a tough environment for our industry, which has unfortunately launched more capacity than the markets demand. We saw this coming, focused on the fundamentals of our business and managed for profitability and free cash flow. Our strategy has worked."

Panamsat has acquired Esatel to add to its Hughes Global Services HGS acquisition, to fillip its communication capabilities, both in the air and on the ground section to meet the rapidly growing government demand. The satellite service provider launched satellites Galaxy XIII/Horizons-1, which offer the first High-Definition television neighborhood in the US.

Operating lease revenues were $206.0 million for the third quarter of 2003, compared to $194.4 million for the same period in 2002. According to the release, the increase in operating lease revenues could be attributed to additional government revenues related to the Company's new G2 Satellite Solutions division and an increase in network services revenues. These increases were partially offset by lower video revenues recorded as a result of customer credit related issues. Total sales and sales-type lease revenues were $4.0 million for the quarter ended September 30, 2003, compared to $4.7 million for the same period in 2002.

Operating lease revenues from video services were $119.0 million during the third quarter of 2003, compared to $124.9 million for the third quarter of 2002. This decrease was primarily due to customer credit related issues and lower occasional services revenues. Overall video services revenues were $123.1 million in the third quarter of 2003, compared to $129.6 million in the third quarter of 2002, says the release.

Operating lease revenues from network services increased to $54.5 million for the third quarter of 2003, compared to $49.4 million for the third quarter of 2002. This increase in network services revenues is primarily a result of net new business recorded during the third quarter of 2003 from network resellers. Operating lease revenues from government services (previously included within network services revenues) increased to $21.2 million for the third quarter of 2003, compared to $6.3 million for the third quarter of 2002. The $21.2 million for the third quarter of 2003 primarily represents revenues from the Company's G2 Satellite Solutions division, which was formed in 2003 after the acquisition of HGS.

Total direct operating costs and selling, general & administrative costs for the three months ended 30 September 2003 increased by $5.4 million or 10 percent to $57.9 million as compared to $52.5 million for the same period in 2002. This increase is primarily attributable to additional costs related to the Company's G2 Satellite Services division, partially offset by lower bad debt expense and the Company's continued focus on operational efficiencies including lower insurance costs.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/30/rps%20%281%29.jpg?itok=xyUC64h7
Smith to lead Motorola-backed Rising Pune Supergiant, Ben Stokes on board

Heralding a new edition of Indian Premier League with renewed hope and vision in their second season, Rising Pune Supergiant, made a dashing entry into the 10th season of IPL, with their dynamic new Captain, Steve Smith and spirited middle order batsman Ajinkya Rahane by welcoming the new addition...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/30/pacigfic%20%281%29.jpg?itok=ZGmbPGMh
Star World Premiere HD to air 'The Pacific'

Star World Premiere HD, one of India’s leading English Entertainment channel, has been a champion in introducing some of the biggest path-breaking stories ever told. These, coupled with memorable performances, award-winning characters and the biggest stars are sure to raise the entertainment...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/30/bheem%20%281%29.jpg?itok=swEHQtH7
Super Bheem to be weekly show from 2 April

After the success of the television films on Super Bheem, Green Gold Animation & Pogo are gearing up to present Super Bheem in a weekly episodic format every Sunday, starting, 2 April 2017. The makers of Chhota Bheem, Green Gold Animation has come up with an upscale 3D-off shoot avatar to...

Television TV Channels Kids
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/30/Batman-v-Superman%20%281%29.jpg?itok=glffr2iV
'Batman v Superman: Dawn of Justice' TV premiere on HBO & HBO HD

Home to the biggest Hollywood blockbusters, HBO India is all set to host the Indian television premiere of Batman v Superman: Dawn of Justice. The movie will air on 2 April at 1 p.m. and 9 p.m. on HBO and HBO HD. The superhero movie is the first live-action film bringing Batman and Superman...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/30/channel-v%20%281%29.jpg?itok=3ezp0Kmg
Channel V launches ‘Only On V’, ties up with Sanam

In a step to further strengthen its position as a music channel, Star India’s Channel V has launched Only On V. The platform plans to offer differentiated content akin to the tastes of the new generation which enjoys both Indian and international music.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/30/zstuido%20%281%29.jpg?itok=CHWVYbdH
English Ent channels witness increased ratings except FX

HBO dropped out of the Top 5 English Movie channels' list this week paving way for the entry of Zee Studio. Players in the genre witnessed mixed ratings. Channels in the English Entertainment genre have seen a steep rise in the viewership except FX.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/30/nagin2%20%281%29.jpg?itok=eQ4wcoNL
Star Plus & Sony Pal retain respective leadership, Naagin 2 maintains lead

Week 12 of Broadcast Audience Research Council (BARC) India saw no major change in the rankings. Star Plus and Sony Pal continued to lead their respective markets. Zee TV in Hindi GEC Urban market grabbed the third slot, and Sony Entertainment Television slipped to fourth.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/30/amc%20%281%29.jpg?itok=NDDeZ2CT
AMC Networks promotes Geraud Alazard to SVP - marketing

AMC Networks International, a subsidiary of AMC Networks Inc., has appointed Géraud Alazard as Senior Vice President of Marketing. Promoted from the position of Vice President of Marketing for AMC Global and SundanceTV Global, Alazard now has responsibility for all AMCNI portfolio brands including...

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/30/star-india%20%281%29.jpg?itok=wBlLOULk
Star India producer: Incredible to know about art and evolution of storytelling

"It was insightful to know about the conscious and subconscious mind, and it was incredible to know about the art and evolution of storytelling," said Star India senior producer Avni Bhatija. She was among a gathering of creative heads at Qench Studioz at Lower Parel, Mumbai, recently.

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories