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DISCONTINUED

2006-08-15T15:17:00.000Z

This blog discontinued August 15, 2006 at 2600 posts for space and satellite news.

For space and satellite news, events, and articles:

www.spacedaily.com

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http://www.janes.com/

http://www.nearearthllc.com/analysis/presentation.asp

www.SATELLITE2007.com

http://news.google.com/nwshp?tab=wn&q=satellite&ie=UTF-8

or search this blog for links to other space and satellite news.

US Teachers Use Satellite Data in Science Class

2006-08-15T15:14:00.000Z

US Teachers Use Satellite Data in Science Class
Voice of America -
Satellites have revolutionized global communications. Teachers say satellites are also changing scientific education, introducing students to pictures and research data transmitted from space.
US Teachers Use Satellite Data in Science Class Elites TV
all 4 related »

US Teachers Use Satellite Data in Science Class
By Mike O'Sullivan Los Angeles 14 August 2006

Listen to O'Sullivan report

Satellites have revolutionized global communications. Teachers say satellites are also changing scientific education, introducing students to pictures and research data transmitted from space. Scientists and teachers attended a recent conference of the Satellite Educators Association in Los Angeles.

Paula Arvedson

Hundreds of satellites constantly send back images of earth and its weather systems, and educator Paula Arvedson says teachers are using the data to get their students involved in real-world science. Arvedson is associate professor of education at California State University, Los Angeles, which hosted the annual conference of satellite educators.

"We study oceans, we study currents, we study ocean temperature, also weather," she said. "We look at agriculture, crop health."

One student project is looking at marine life in nearby Santa Monica, using data from satellites.

John Moore

John Moore, the association's incoming president, teaches high school science in Medford, New Jersey. He says the satellite educators association was set up to introduce teachers and students to the Earth as seen from space. In 1988, when the organization was founded, teachers built satellite receivers to get data from government agencies, including the National Oceanographic and Atmospheric Administration, or NOAA, and the space agency NASA. He says by the 1990s, the Internet made that data more accessible.

"And so all this information, of course, is now available to anyone free over the Internet," he said.

Fourteen-year-old Monique, a student from Orange County, California, has worked on various projects.

"Birds and migrations, and how the satellites track them," she said. "And two years before that, because of Hurricane Charlie, hurricanes and their effects and how satellites can be used to dissect them. And this year, I think we're going to be talking about the atmosphere and about the ocean and the temperatures."

Duane Laursen

Retired California teacher Duane Laursen has downloaded many types of data from US and Russian you can do with looking at photosynthesis," he said. "You can look at landforms in Earth science, earthquake faults. It just goes on and on, and it's unlimited just how creative you can be with this idea."

Bob Wanton of the National Weather Service sees widespread interest in global warming and hurricanes, and says many student projects blend real-world observation with satellite information. He says the projects get students into science early.

Bob Wanton

"We get them involved with going out, taking weather observations, looking at the computer models, and forecasting themselves or at least trying to forecast themselves," he said. "It piques their interest. It gets them involved. Whether they go into weather or not, at least they're seeing what's out there. They're getting into some kind of science, and it's making their mind work."

The satellite projects have applications beyond Earth-bound weather forecasts. One student group is studying pictures of Mars, another is looking at images of Saturn's rings and moons sent back by NASA spacecraft, and a third is studying turbulence on the sun's surface, in images relayed to the classroom by satellite.

http://www.voanews.com/english/2006-08-14-voa43.cfm

Satellite News

2006-08-15T01:00:00.000Z

Playfuls.com

New Asia-Pacific satellite in orbit
Bizjournals.com, NC -
A new satellite, launched Friday night, is being positioned to transmit signals to satellite dishes from Japan and East Asia to Hawaii.
Japanese and French satellites go into orbit MSNBC
Ariane 5 ECA orbits JCSAT-10 and Syracuse 3B Playfuls.com
Ariane-5 rocket sends Japan and French satellites into orbit GameSHOUT
Technology News Daily - NASASpaceflight.com - all 17 related »

Greenland's ice loss is accelerating, satellite studies suggest
USA Today -
Greenland is shedding ice at an increasing rate, about three times faster than past years, satellite measurements suggest. The findings, based on more than three years of observations, echo data released earlier this year.
Sea may be rising faster than previously thought Boston Globe
all 7 related »

Technology News Daily

Scientists critique satellite protection
Monsters and Critics.com, UK - 4 hours ago
A proposed US system to protect satellites from solar storms or high-altitude nuclear detonations might cause radio communication blackouts.
US satellite plan 'will knock out Pacific radio links' New Zealand Herald
US satellite protection scheme could affect global communications EurekAlert (press release)
all 17 related »

Taiwan satellite starts transmitting weather data
Taiwan Headlines, Taiwan -
Taiwan's recently launched sounding satellite, FORMASAT-3, has begun sending weather data, as the first micro-satellite of the constellation settled in its designated orbital plane, a senior official of the FORMOSAT-3 Program Office said on Sunday.
FORMOSAT-3 commences sending weather updates Taipei Times
all 2 related »

Satellite solar touches down
NEWS.com.au, Australia -
SOLAR technology developed to power satellites in space will be adapted to Australia's sun-drenched lands in a $10 million deal signed today.

Gilat Satellite Turns To Profit In Q2 As Revenues Rise - Update
Trading Markets, CA -
(RTTNews) - Gilat Satellite Networks Ltd. (GILT | charts | news | PowerRating), a provider of products and services for satellite-based communications networks, on Monday announced its second quarter financial ...
Directed Electronics Reports Record Second Quarter 2006 Results ... Yahoo! News (press release)
Gilat Announces Second Quarter 2006 Results Business Wire (press release)
all 29 related »

Gilat Satellite Swings To Profit In Q2 On Higher Revenues - Quick ...
Trading Markets, CA
(RTTNews) - Gilat Satellite Networks (GILT | charts | news | PowerRating) posted second quarter non-GAAP net income of $3.1 million or $0.12 per share, compared to a loss of $1.1 million or $0.05 per share in the prior year quarter.

US satellite protection scheme poses global communications threat
innovations report, Germany - 15 hours ago
A proposed US system to protect satellites from solar storms or high-altitude nuclear detonations would cause worldwide radio communications blackouts, according to new research by a group of scientists from New Zealand, Finland and the UK.

August 14, 2006 08:01 AM US Eastern Timezone

Intelsat Reports Second Quarter 2006 Results; Revenue Increases on Solid Performance of Lease Services and Managed Solutions; Cost Reduction Efforts Yield Improved Margins; PanAmSat Integration on Schedule

PEMBROKE, Bermuda--(BUSINESS WIRE)--Aug. 14, 2006--Intelsat, Ltd., the world's largest provider of fixed satellite services, today reported results for the three-month and six-month periods ended June 30, 2006.

Results for both periods include Intelsat, Ltd. and its subsidiaries, referred to as Intelsat or the company. Results do not reflect our July 3, 2006 acquisition of PanAmSat Holding Corporation, which we renamed Intelsat Holding Corporation.

Intelsat, Ltd., reported revenue of $310.5 million and a net loss of $42.7 million for the quarter ended June 30, 2006.

The company also reported EBITDA, or Intelsat, Ltd. earnings before interest, taxes and depreciation and amortization, for the quarter of $221.6 million, or 71 percent of revenue, and the company also reported Sub Holdco Adjusted EBITDA(1) for the same period of $241.0 million, or 78 percent of revenue(2). Sub Holdco Adjusted EBITDA less the benefit of a one-time channel termination fee of $20.6 million recognized in the second quarter was $220.4 million, or 76 percent of revenue.

For the six months ended June 30, 2006, Intelsat reported revenue of $591.0 million, a net loss of $132.8 million, and EBITDA of $401.7 million, or 68 percent of revenue. Sub Holdco Adjusted EBITDA for the six month period was $447.7 million, or 76 percent of revenue. Sub Holdco Adjusted EBITDA less the benefit of the one-time channel termination fee of $20.6 million described above was $427.1 million, or 75 percent of revenue.

Intelsat generated strong free cash flow from operations of $123.5 million through the second quarter of 2006. Free cash flow from operations is defined as net cash provided by operating activities, less payments for satellites and other property, plant and equipment and associated capitalized interest.

"The second quarter featured solid performance at Intelsat and concluded with the closing of the PanAmSat transaction, a deal that has created the new global leader in satellite-based communications services," said Intelsat Chief Executive Officer, Dave McGlade. "Intelsat's core lease services and GlobalConnex(SM) managed solutions, up 8 percent and 26 percent respectively as compared to the year-ago quarter, continued to lead our business performance, driven by demand for corporate data and Voice Over IP applications. With the benefits of our controls over operating expense now demonstrated by the expansion in our margins, we are ready to enhance our global operations through continuing to execute a disciplined integration of PanAmSat."

"The integration is on track and proceeding as planned," McGlade added. "By making key integration decisions early on, we have been able to focus as one company on customers and the marketplace. Recent orders such as Intelsat General's contract in support of the German Military Satellite program validate that effort and position us to create 2007 revenue momentum."

Integration Process Highlights

Intelsat's integration process includes four primary thrusts: sales and marketing, staffing, operations and facilities. The sales and marketing organizations were integrated shortly after closing, with near term objectives that include network optimization in order to increase marketable capacity. Staffing decisions are largely complete. Intelsat expects total headcount to reduce from approximately 1,350 at deal close to a steady-state headcount of approximately 1,000 by mid-year 2008. Most facility closures and integration of back office functions are expected to be completed by mid-2007. Intelsat expects to conclude much of the satellite fleet and operations center integration in 2007, with the process fully complete by the end of 2008.

Intelsat expects to realize approximately $92 million in annualized operating cost savings by the end of 2008. In order to achieve these expected savings, Intelsat believes it will incur approximately $180 million in one time expenditures, approximately half of which are expected to be incurred in the second half of 2006 and substantially all of the balance in 2007. Integration expenses include approximately $40 million to $45 million in capital expenditures.

Financial Results for the Three Months Ended June 30, 2006

Total revenue increased $20.7 million, or 7 percent, for the three months ended June 30, 2006 from $289.8 million for the three months ended June 30, 2005, driven by strong results from lease, channel, and managed solutions service offerings. Lease services revenue increased $13.9 million, or 8 percent, to $196.9 million as compared to $183.0 million in the same period in 2005, primarily due to increased demand from Network Services and Telecom customers in North America, Africa, and the Middle East. Channel revenue increased $9.5 million to $66.7 million for the three months ended June 30, 2006 from $57.2 million for the three months ended June 30, 2005. The increase was primarily attributable to the previously mentioned one-time fee of $20.6 million, offset by the continuing decline in legacy channel services revenue. Mobile Satellite Services, or MSS, and other revenue declined by $9.9 million, or 45 percent, to $12.0 million for the three months ended June 30, 2006, as compared to $21.9 million in the prior-year period, primarily due to reduced usage of mobile satellite services sold to customers of Intelsat General. These declines were partially offset by increases in managed solutions revenue, which increased by $7.2 million, or 26 percent, to $34.9 million from $27.7 million in the year-ago period, driven primarily by increased demand for trunking and private line solutions for Network Services and Telecom customers.

Total operating expenses for the three months ended June 30, 2006 declined $7.1 million to $231.8 million, from $238.9 million in the same period in 2005. Depreciation and amortization expense increased $4.8 million, or 3 percent, to $148.6 million for the three months ended June 30, 2006 from $143.8 million for the same period in 2005, primarily due to the accelerated depreciation of certain retiring non-satellite assets. Direct cost of revenue declined by $13.9 million, or 23 percent, to $46.1 million for the period from $60.0 million for the same period in 2005, primarily due to the reduction in third party capacity costs related to the decline in MSS and lease service sales to customers of Intelsat General and lower insurance costs. Selling, general and administrative expense for the second quarter of 2006 was $37.1 million, an increase of $2.0 million from $35.1 million in the three months ended June 30, 2005, due primarily to lower bad debt expense for the period in 2005.

Net loss of $42.7 million for the three months ended June 30, 2006 reflected a decrease of $10.7 million from $53.4 million of net loss for the three months ended June 30, 2005. The net loss decrease resulted primarily from the higher revenues and lower costs described above, offset somewhat by higher interest expense. Interest expense increased $8.9 million to $108.3 million for the three months ended June 30, 2006, from $99.5 million for the same period in 2005. Current period interest expense included $14.9 million in non-cash expenses associated with the amortization and accretion of discounts recorded on existing debt.

EBITDA of $221.6 million, or 71 percent of revenue, for the three months ended June 30, 2006 reflected an increase of $27.1 million, or 14 percent, from $194.5 million, or 67 percent of revenue, for the same period in 2005. This increase was primarily due to the higher revenues and lower costs described above. Sub Holdco Adjusted EBITDA increased $33.8 million to $241.0 million, or 78 percent of revenue, for the three months ended June 30, 2006 from $207.2 million, or 71 percent of revenue, for the same period in 2005. Sub Holdco Adjusted EBITDA less the benefit of the one-time channel termination fee was $220.4 million, or 76 percent of revenue.

Financial Results for the Six Months Ended June 30, 2006

On January 28, 2005, Intelsat, Ltd. was acquired by Intelsat Holdings, Ltd. (the "Acquisition"). For comparative purposes, when we refer in this news release to our results for the six months ended June 30, 2005, we are referring to our combined results for the period from January 1, 2005 through January 31, 2005 and for the period (post-Acquisition) from February 1, 2005 through June 30, 2005.

Total revenue increased $8.0 million, or 1 percent, to $591.0 million for the six months ended June 30, 2006 from $583.0 million for the six months ended June 30, 2005, driven by increases in sales of lease and managed solutions service offerings. Lease services increased $14.6 million, or 4 percent, to $386.7 million as compared to $372.1 million in the same period in 2005, due to increased demand from Network Services and Telecom customers in Africa, the Middle East and North America. Channel revenue decreased $2.2 million to $115.4 million for the six months ended June 30, 2006 from $117.6 million for the six months ended June 30, 2005 due to the continuing decline in the use of legacy channel services. MSS and other revenue declined by $17.2 million to $22.7 million for the six months ended June 30, 2006, as compared to $39.9 million in the prior-year period, primarily due to reduced usage of mobile satellite services sold to customers of Intelsat General. These declines were partially offset by increases in managed solutions revenue, which increased by $12.8 million to $66.2 million for the six months ended June 30, 2006 from $53.4 million for the year-ago period, driven by increased demand for trunking and private line solutions for Network Services and Telecom customers.

Total operating expenses for the six months ended June 30, 2006 declined $114.9 million to $481.4 million, from $596.3 million for the same period in 2005, which included a $69.2 million satellite impairment charge due to the failure of our IS-804 satellite in January 2005. Depreciation and amortization expense increased $24.2 million, or 9 percent, to $303.2 million for the six months ended June 30, 2006 from $279.0 million for the same period in 2005, primarily due to purchase accounting treatment following the Acquisition and accelerated depreciation for retiring non-satellite assets, as well as to our IA-8 satellite, which entered service in July 2005. Direct costs of revenue declined by $29.6 million, or 23 percent, to $101.2 million for the first half of 2006 from $130.8 million for the same period in 2005, primarily due to the reduction in third party capacity costs related to the decline in MSS and lease service sales to customers of Intelsat General. Selling, general and administrative expense for the first half of 2006 was $77.0 million, a decline of $40.0 million from $117.0 million in the six months ended June 30, 2005. The decrease was due primarily to lower professional fees of $40.8 million as compared to the first six months of 2005, incurred mainly in connection with the Acquisition, offset by recovery of previously written-off bad debts of $7.3 million in 2005.

Net loss of $132.8 million for the six months ended June 30, 2006 reflected a decrease of $72.3 million from $205.1 million of net loss for the six months ended June 30, 2005. This decrease was primarily due to the IS-804 impairment charge and professional fees associated with the Acquisition that were incurred in 2005, and the higher revenues and lower costs in 2006 described above.

EBITDA of $401.7 million, or 68 percent of revenue, for the six months ended June 30, 2006 reflected an increase of $135.8 million from $265.9 million, or 46 percent of revenue, for the same period in 2005. This increase was primarily due to the IS-804 impairment charge and fees associated with the Acquisition incurred in 2005, and higher revenues and lower costs in 2006 described above. Sub Holdco Adjusted EBITDA increased $32.0 million to $447.7 million, or 76 percent of revenue, for the six months ended June 30, 2006 from $415.7 million, or 71 percent of revenue, for the same period in 2005. Sub Holdco Adjusted EBITDA less the benefit of the one-time channel termination fee of $20.6 million was $427.1 million, or 75 percent of revenue.

At June 30, 2006, Intelsat's backlog, representing expected future revenue under contracts with customers, was $3.74 billion. At March 31, 2006, Intelsat's backlog was $3.80 billion.

Intelsat management has reviewed the data pertaining to the use of the Intelsat system and is providing revenue information with respect to that use by service category and customer set in the following tables. Intelsat management believes this provides a useful perspective on the changes in revenue and customer trends over time.

      Revenue Percentage Contribution Comparison by Customer Set
                        and Service Category

By Customer Set
------------------------------
                              Three Months Ended   Six Months Ended
                                   June 30,            June 30,
                                2005      2006      2005      2006
                              ---------------------------------------

Network Services and Telecom         61%       66%       61%       66%
Government                           22%       17%       22%       17%
Media                                17%       17%       17%       17%



By Service Category
------------------------------
                              Three Months Ended   Six Months Ended
                                   June 30,            June 30,
                                2005      2006      2005      2006
                              ---------------------------------------

Lease                                63%       64%       64%       65%
Channel                              20%       21%       20%       20%
Managed Solutions                     9%       11%        9%       11%
Mobile Satellite Services             8%        4%        7%        4%

Conference Call Information

Intelsat management will host a conference call with investors and analysts at 11:00 a.m. EDT on August 14, 2006 to discuss the company's financial results for the second quarter of 2006. Access to the live conference call will also be available via the Internet at the Intelsat web site: www.intelsat.com/investors.

To participate on the live call, United States-based participants should call (800) 591-6945. Non-U.S. participants should call +1 (617) 614-4911. The participant pass code is 96833580. Participants will have access to a replay of the conference call through August 21, 2006. The replay number for U.S.-based participants is (888) 286-8010 and for non-U.S. participants is +1 (617) 801-6888. The participant pass code is 85800450.

(1) Intelsat Subsidiary Holding Company, Ltd., or Intelsat Sub Holdco,
   and its subsidiaries are the entities that conduct Intelsat's
   operations.

(2) In this release, financial measures are presented both in
   accordance with United States generally accepted accounting
   principles ("GAAP") and also on a non-GAAP basis. All EBITDA,
   EBITDA margin, Sub Holdco Adjusted EBITDA, Sub Holdco Adjusted
   EBITDA margin and free cash flow from operations figures in this
   release are non-GAAP financial measures. Please see the
   consolidated financial statements below for information
   reconciling non-GAAP financial measures to comparable GAAP
   financial measures. Sub Holdco Adjusted EBITDA is a term based on
   consolidated EBITDA, as defined in Intelsat Sub Holdco's credit
   agreement dated July 3, 2006 (the "Credit Agreement"). Please see
   the reconciliation of Sub Holdco Adjusted EBITDA to EBITDA
   provided with the consolidated financial statements below.

About the New Intelsat

Intelsat is the largest provider of fixed satellite services (FSS) worldwide and is the leading provider of these services to each of the media, network services and telecom and government customer sectors, enabling people and businesses everywhere constant access to information and entertainment. Intelsat offers customers a greater business potential by providing them access to unrivaled resources with ease of business and peace of mind. Our services are utilized by an extensive customer base, including some of the world's leading media and communications companies, multinational corporations, Internet service providers and government/military organizations. Real-time, constant communication with people anywhere in the world is closer, by far.

Intelsat Safe Harbor Statement: Some of the statements in this news release constitute "forward-looking statements" that do not directly or exclusively relate to historical facts. The forward-looking statements made in this release reflect Intelsat's intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, including known and unknown risks, uncertainties and other factors, many of which are outside of Intelsat's control. Important factors that could cause actual results to, differ materially from the expectations expressed or implied in the forward-looking statements include known and unknown risks. Known risks include, but are not limited to insufficient market demand for the services offered by Intelsat; inadequate supply of Intelsat capacity; the quality and price of comparable communications services offered or to be offered by other satellite operators; Intelsat's access to sufficient capital to meet its operating and financing needs; and the perceptions of our business, operations and financial condition and the industry in which we operate by the financial community and ratings agencies. In connection with Intelsat's acquisition of PanAmSat as described in this news release, factors that may cause results or developments to differ materially from the forward-looking statements made in this news release include, but are not limited to: our substantial level of indebtedness following consummation of the acquisition; certain covenants in our debt agreements following consummation of the acquisition; the ability of our subsidiaries to make distributions to us in amounts sufficient to make required interest and principal payments on our debt; a change in the health of, or a catastrophic loss of, one or more of our satellites, including those acquired in the acquisition; the failure to successfully integrate or to obtain expected synergies from the acquisition on the expected timetable or at all; and the failure to achieve the strategic objectives envisioned for the acquisition of PanAmSat. Detailed information about some of the known risks is included in Intelsat's quarterly report on Form 10-Q for the quarter ended June 30, 2006 and Intelsat's registration statement on Form S-4 on file with the U.S. Securities and Exchange Commission. Because actual results could differ materially from Intelsat's intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in this news release with caution. Intelsat does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

                            INTELSAT, LTD.
           UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
                          ($ in thousands)

                                Three Months Ended Three Months Ended
                                     June 30,           June 30,
                                      2005               2006
                                ------------------ ------------------

Revenue                                   $289,824           $310,534
Operating expenses:
 Direct costs of revenue                   59,997             46,084
 Selling, general and
  administrative                           35,083             37,145
 Depreciation and amortization            143,845            148,602
                                ------------------ ------------------
 Total operating expenses                 238,925            231,831
                                ------------------ ------------------
Income from operations                      50,899             78,703
Interest expense                            99,475            108,331
Interest income                              2,215              4,919
Other expense, net                            (222)            (5,731)
                                ------------------ ------------------
Loss from operations before
income taxes                              (46,583)           (30,440)
Provision for income taxes                   6,826             12,245
                                ------------------ ------------------
Net loss                                  $(53,409)          $(42,685)
                                ================== ==================



                           INTELSAT, LTD.
           UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
  AND RECONCILIATION TO COMBINED UNAUDITED CONSOLIDATED STATEMENTS
                            OF OPERATIONS
                          ($ in thousands)

                      Predecessor Successor
                         Entity      Entity    Combined
                      ----------- ----------- -----------
                        Period       Period
                      January 1,  February 1, Six Months  Six Months
                        2005 to     2005 to      Ended      Ended
                      January 31,  June 30,    June 30,    June 30,
                         2005        2005        2005        2006
                      -----------------------------------------------

Revenue                   $97,917    $485,081    $582,998    $590,980
Operating expenses:
 Direct costs of
  revenue                 26,939     103,834     130,773     101,195
 Selling, general and
  administrative          55,443      61,563     117,006      76,960
 Depreciation and
  amortization            39,184     239,798     278,982     303,206
 Impairment of asset
  value                   69,227           -      69,227           -
 Restructuring costs         263           -         263           -
                      ----------- ----------- ----------- -----------
 Total operating
  expenses               191,056     405,195     596,251     481,361
                      ----------- ----------- ----------- -----------
Income (loss) from
operations               (93,139)     79,886     (13,253)    109,619
Interest expense           13,241     167,438     180,679     217,804
Interest income               191       3,306       3,497       8,271
Other income
(expense), net               863        (676)        187     (11,142)
                      ----------- ----------- ----------- -----------
Loss from operations
before income taxes     (105,326)    (84,922)   (190,248)   (111,056)
Provision for income
taxes                      4,400      10,412      14,812      21,740
                      ----------- ----------- ----------- -----------
Net loss                $(109,726)   $(95,334)  $(205,060)  $(132,796)
                      =========== =========== =========== ===========



                           INTELSAT, LTD.
                RECONCILIATION OF NET LOSS TO EBITDA
                             (Unaudited)
                          ($ in thousands)

                            Three Months Ended    Six Months Ended
                                 June 30,             June 30,
                              2005      2006      2005       2006
                            --------- --------- ---------- ----------

Net loss                     $(53,409) $(42,685) $(205,060) $(132,796)
Add:
 Interest expense             99,475   108,331    180,679    217,804
 Provision for income taxes    6,826    12,245     14,812     21,740
 Depreciation and
  amortization               143,845   148,602    278,982    303,206

Subtract: Interest income       2,215     4,919      3,497      8,271
                            --------- --------- ---------- ----------
   EBITDA                   $194,522  $221,574   $265,916   $401,683
                            ========= ========= ========== ==========

   EBITDA margin                  67%       71%        46%        68%

Note:

EBITDA consists of Intelsat, Ltd. earnings before interest, taxes
and depreciation and amortization. EBITDA is a measure commonly used
in the fixed satellite services sector, and Intelsat presents EBITDA
to provide further information with respect to its operating
performance. EBITDA margin is defined as EBITDA divided by total
revenues. Intelsat uses EBITDA as one criterion for evaluating its
performance relative to that of its peers. Intelsat believes that
EBITDA is an operating performance measure, and not a liquidity
measure, that provides investors and analysts with a measure of
operating results unaffected by differences in capital structures,
capital investment cycles and ages of related assets among otherwise
comparable companies. However, EBITDA is not a measure of financial
performance under GAAP, and our EBITDA may not be comparable to
similarly titled measures of other companies. You should not consider
EBITDA or EBITDA margin as an alternative to operating or net income
or operating or net income margin, determined in accordance with GAAP,
as an indicator of Intelsat's operating performance, or as an
alternative to cash flows from operating activities, determined in
accordance with GAAP, as an indicator of cash flows, or as a measure
of liquidity.



                           INTELSAT, LTD.
      RECONCILIATION OF CASH FLOW FROM OPERATIONS TO SUB HOLDCO
                           ADJUSTED EBITDA
                             (Unaudited)
                          ($ in thousands)

                                              Combined
                                            ------------
                  Three Months Three Months  Six Months   Six Months
                     ended        ended        ended        ended
                    June 30,     June 30,     June 30,     June 30,
                      2005         2006         2005         2006
                  ---------------------------------------------------
                       (in thousands)            (in thousands)
Reconciliation of
Intelsat, Ltd.
net cash provided
by operating
activities to
Intelsat, Ltd.
net loss:
 Net cash
  provided by
  operating
  activities         $140,712     $164,058     $246,643     $188,547
 Depreciation and
  amortization       (143,845)    (148,602)    (278,982)    (303,206)
 Satellite
  impairment
  charges                   -            -      (69,227)           -
 Provision for
  doubtful
  accounts              1,503           93        7,566          851
 Foreign currency
  transaction
  loss (gain)             487           60          366          280
 Deferred income
  taxes                   134            -       (2,241)           -
 (Gain) Loss on
  Disposal of
  Assets                    -          (11)           -          (11)
 Stock-based
  compensation              -          (29)           -         (110)
 Compensation
  cost paid by
  Parent                    -       (2,160)           -       (7,992)
 Amortization of
  bond discount
  and issuance
  costs               (16,617)     (17,624)     (26,496)     (34,713)
 Share in loss of
  affiliate            (2,289)      (7,864)      (3,920)     (14,134)
 Changes in
  assets and
  liabilities,
  net of effects
  of acquisitions     (33,494)     (30,607)     (78,769)      37,692
                  ------------ ------------ ------------ ------------
Intelsat, Ltd. net
loss                 $(53,409)    $(42,686)   $(205,060)   $(132,796)
                  ============ ============ ============ ============
Add:
 Interest expense      99,475      108,331      180,679      217,804
 Provision for
  income taxes          6,827       12,245       14,812       21,740
 Depreciation and
  amortization        143,845      148,602      278,982      303,206
Subtract:
 Interest income        2,214        4,919        3,497        8,271
                  ------------ ------------ ------------ ------------
Intelsat, Ltd.
EBITDA               $194,524     $221,573     $265,916     $401,683
                  ============ ============ ============ ============
Add (Subtract):
 Parent and
  intercompany
  expenses, net 
  (1)                   4,335        3,359        8,082        7,866
 Compensation and
  benefits (2)            818        1,074       11,764        2,057
 Restructuring
  costs (3)                 -            -          263            -
 Acquisition
  related
  expenses (4)          3,449        3,000       52,428        6,000
 Equity
  investment
  losses (5)            2,289        7,864        3,920       14,134
 Satellite
  impairment
  charge (6)                -            -       69,227            -
 Non-recurring
  and other non-
  cash items (7)        1,763        4,108        4,133       15,922
                  ------------ ------------ ------------ ------------
Sub Holdco
Adjusted EBITDA      $207,178     $240,978     $415,733     $447,662
                  ============ ============ ============ ============
Sub Holdco
Adjusted EBITDA
margin                     71%          78%          71%          76%

Note:

Intelsat calculates a measure called Sub Holdco Adjusted EBITDA,
based on the term consolidated EBITDA, as defined in the Credit
Agreement of Intelsat Sub Holdco dated July 3, 2006. Sub Holdco
Adjusted EBITDA consists of EBITDA as adjusted to exclude certain
unusual items, certain other operating expense items and other
adjustments permitted in calculating covenant compliance under the
Credit Agreement as described in the table above. Sub Holdco Adjusted
EBITDA as presented above is calculated only with respect to Intelsat
Sub Holdco and its subsidiaries. Sub Holdco Adjusted EBITDA is a
material component of certain covenant ratios used in the Credit
Agreement that apply to Intelsat Sub Holdco and its subsidiaries, such
as the secured debt leverage ratio and total leverage ratio. Sub
Holdco Adjusted EBITDA is not a measure of financial performance under
GAAP, and our Sub Holdco Adjusted EBITDA may not be comparable to
similarly titled measures of other companies. You should not consider
Sub Holdco Adjusted EBITDA as an alternative to operating or net
income, determined in accordance with GAAP, as an indicator of
Intelsat's operating performance, or as an alternative to cash flows
from operating activities, determined in accordance with GAAP, as an
indicator of cash flows or as a measure of liquidity.



                           INTELSAT, LTD.
                     CONSOLIDATED BALANCE SHEETS
                          ($ in thousands)

                                               As of        As of
                                            December 31,   June 30,
                                               2005         2006
                                            ------------ ------------
                                                         (Unaudited)
                  ASSETS
Current assets:
 Cash and cash equivalents                     $360,070     $475,338
 Receivables, net of allowance of $26,342
  in 2005 and $23,911 in 2006                   203,452      194,499
 Deferred income taxes                           10,752       10,888
                                            ------------ ------------
   Total current assets                         574,274      680,725
 Satellites and other property and
  equipment, net                              3,327,341    3,111,226
 Amortizable intangible assets, net             493,263      474,561
 Non-amortizable intangible assets              560,000      560,000
 Goodwill                                       111,388      111,388
 Other assets                                   228,178      211,414
                                            ------------ ------------
   Total assets                              $5,294,444   $5,149,314
                                            ============ ============

  LIABILITIES AND SHAREHOLDER'S DEFICIT
Current liabilities:
 Current portion of long-term debt              $11,097      $16,271
 Accounts payable and accrued liabilities       332,907      318,656
 Deferred satellite performance incentives        7,418        7,391
 Deferred revenue                                30,143       25,192
                                            ------------ ------------
   Total current liabilities                    381,565      367,510

Long-term debt, net of current portion         4,790,016    4,807,555
Deferred satellite performance incentives,
net of current portion                           36,027       33,914
Deferred revenue, net of current portion         157,580      139,642
Accrued retirement benefits                      107,778      108,069
Other long-term liabilities                       27,743       23,796
                                            ------------ ------------
   Total liabilities                          5,500,709    5,480,486
                                            ------------ ------------

Shareholder's deficit:
 Ordinary shares, 12,000 shares authorized,
  issued and outstanding                             12           12
 Paid-in capital                                  9,104       17,206
 Accumulated deficit                           (215,558)    (348,354)
 Accumulated other comprehensive income
  (loss)
   Unrealized gain (loss) on available-for-
    sale securities, net of tax                     177          (36)
                                            ------------ ------------
   Total shareholder's deficit                 (206,265)    (331,172)
                                            ------------ ------------
   Total liabilities and shareholder's
    deficit                                  $5,294,444   $5,149,314
                                            ============ ============



                           INTELSAT, LTD.
           UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
                          ($ in thousands)

                             Predecessor           Successor
                               Entity               Entity
                            ------------- ---------------------------
                               Period        Period      Six Months
                             January 1 to  February 1       Ended
                             January 31,   to June 30,    June 30,
                                2005          2005          2006
                            ------------- ------------- -------------
Cash flows from operating
activities:
 Net loss                      $(109,726)     $(95,334)    $(132,796)
 Adjustments to reconcile
  net loss to net cash
  provided by operating
  activities:
   Depreciation and
    amortization                  39,184       239,798       303,206
   Impairment charge for
    IS-804 satellite              69,227             -             -
   Provision for doubtful
    accounts                      (5,799)       (1,767)         (851)
   Foreign currency
    transaction (gain) loss           75          (441)         (280)
   Deferred income taxes             585         1,656             -
   Loss on disposal of
    assets                             -             -            11
   Stock compensation                  -             -           110
   Compensation cost paid
    by parent                          -             -         7,992
   Amortization of bond
    discount and issuance
    costs                            430        26,066        34,713
   Share in losses of
    affiliate                        402         3,518        14,134
   Changes in operating
    assets and liabilities,
    net of effects of
    acquisitions:
     Receivables                 (32,168)       31,513         9,804
     Other assets                  3,194        (2,811)       (3,309)
     Accounts payable and
      accrued liabilities         51,722        55,489       (17,642)
     Deferred revenue             (2,388)      (22,177)      (22,889)
     Accrued retirement
      benefits                       (27)        2,411           291
     Other long-term
      liabilities                 (3,327)       (2,662)       (3,947)
                            ------------- ------------- -------------
 Net cash provided by
  operating activities            11,384       235,259       188,547
                            ------------- ------------- -------------
Cash flows from investing
activities:
 Payments for satellites
  and other property and
  equipment                         (953)      (83,777)      (65,009)
 Proceeds from insurance
  receivable                      38,561        19,759             -
                            ------------- ------------- -------------
 Net cash provided by (used
  in) investing activities        37,608       (64,018)      (65,009)
                            ------------- ------------- -------------
Cash flows from financing
activities:
 Repayment of long-term
  debt                                 -      (201,750)       (2,625)
 Proceeds from bond
  issuance                             -       305,348             -
 Proceeds from credit
  facility borrowings                  -       200,000             -
 Principal payments on
  deferred satellite
  performance incentives            (475)       (2,008)       (2,140)
 Principal payments on
  capital lease obligations            -        (1,867)       (3,785)
 Dividends to shareholders             -      (305,913)            -
                            ------------- ------------- -------------
 Net cash used in financing
  activities                        (475)       (6,190)       (8,550)
                            ------------- ------------- -------------
   Effect of exchange rate
    changes on cash                  (75)          441           280
                            ------------- ------------- -------------
   Net change in cash and
    cash equivalents              48,442       165,492       115,268
 Cash and cash equivalents,
  beginning of period            141,320       194,682       360,070
                            ------------- ------------- -------------
 Cash and cash equivalents,
  end of period                 $189,762      $360,174      $475,338
                            ============= ============= =============

Note: The increase in cash between the predecessor entity ending
balance and the successor entity opening balance is due to the
retention by Intelsat, Ltd. of approximately $5 million in Acquisition
financing proceeds.



                           INTELSAT, LTD.
     RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES
                  TO FREE CASH FLOW FROM OPERATIONS
                             (Unaudited)

                              Three Months Ended   Six Months Ended
                                    June 30,            June 30,
                              ---------------------------------------
                                2005      2006      2005      2006
                                (in thousands)      (in thousands)

Net cash provided by operating
activities                    $140,712  $164,058  $246,643  $188,547
Payments for satellites and
other property and equipment   (78,522)  (43,530)  (84,730)  (65,009)
                              --------- --------- --------- ---------
Free cash flow from operations  $62,190  $120,528  $111,913  $123,538
                              ========= ========= ========= =========

Note:

Free cash flow from operations consists of net cash provided by
operating activities, less payments for satellites and other property
and equipment and associated capitalized interest. Free cash flow from
operations is not a measurement of cash flow under GAAP. Intelsat
believes free cash flow from operations is a useful measure of
financial performance that shows a company's ability to fund its
operations. Free cash flow from operations is used by Intelsat in
comparing its performance to that of its peers and is commonly used by
analysts and investors in assessing performance. Free cash flow from
operations does not give effect to cash used for debt service
requirements, and thus does not reflect funds available for investment
or other discretionary uses. Free cash flow from operations is not a
measure of financial performance under GAAP, and our free cash flow
from operations may not be comparable to similarly titled measures of
other companies. You should not consider free cash flow from
operations as an alternative to operating or net income, determined in
accordance with GAAP, as an indicator of Intelsat's operating
performance, or as an alternative to cash flows from operating
activities, determined in accordance with GAAP, as an indicator of
cash flows or as a measure of liquidity.

Contacts

Intelsat, Ltd.
Dianne VanBeber, 202-944-7406
dianne.vanbeber@intelsat.com

At A Glance

Intelsat, Ltd.
Source: via Business Wire Updated 07/03/2006 by company
Headquarters:	Pembroke, Bermuda
Website:	http://www.intelsat.com
CEO:	David McGlade
Employees:	1400
Organization:	Private

Intelsat Reports Second Quarter 2006 Results; Revenue Increases on ...
Business Wire (press release) - San Francisco,CA,USA
14, 2006--Intelsat, Ltd., the world's largest provider of fixed satellite services, today reported results for the three-month and six-month periods ended June ...

Satellite dish ban flouted on China's auction

2006-08-14T13:07:00.000Z

http://www.chinadaily.com.cn/china/2006-08/14/content_664487.htm

CHINA / National

Satellite dish ban flouted on China's auction sites
(Xinhua)
Updated: 2006-08-14 15:55

BEIJING -- Illegal satellite dishes are still being auctioned on Chinese Internet sites, including eBay, the world's biggest on-line auction site, despite Beijing authorities warning of a crackdown on Saturday.

China's capital has launched a month-long hunt for illegal satellite dishes that can receive foreign programs. The Beijing Anti-Pornography and Anti-Piracy Office will target the production, distribution and installation of unauthorized satellite dishes and individuals will be fined up to 5,000 yuan (US$625) for installing a satellite dish.

Two days after the ban, satellite dish advertisements are still up and running on Internet auctions sites including eBay.com.cn.

"These ads were posted before the ban and we haven't had time to delete the auctions," said an official with eBay.com.cn, quoted in Monday's Beijing Daily Messenger.

"We can delete these postings, but we cannot prevent new auctions of satellite dishes on our website," an official with Taobao.com, eBay's Chinese rival was quoted as saying.

The official said it was difficult for the website to check the legitimacy of each auction item.

China's regulation on satellite dishes issued in 1993 prohibits individuals or work units from setting up satellite dishes to receive foreign programs.

Satellite dishes are legally allowed only in hotels above three stars, office buildings and apartments that are designed for foreigners.

However, many foreigners who work in Beijing and live in Chinese apartment complexes, as well as some Chinese, find the available programs on Chinese television unsatisfactory.

Satellite dishes sold on on-line auction sites range in price from 1,200 to 7,000 yuan (US$150 to US$875) depending on the number of channels available.

Satellite, cable battle wireless in US FCC auction

2006-08-13T13:22:00.000Z

Satellite, cable battle wireless in US FCC auction
Washington Post, United States - Aug 9, 2006
US wireless carriers battled with satellite and cable operators on Wednesday for valuable licenses for advanced wireless services -- like high-speed Internet access ...

Dual-Mode GSM-Satellite Modem For GPS Tracking Underway

2006-08-13T13:21:00.000Z

Dual-Mode GSM-Satellite Modem For GPS Tracking Underway
Telematics Journal, NY - Aug 11, 2006
Archetype and Quake Global have formed a strategic alliance to develop a new family of mobile wireless data modems using both satellite and cellular phone networks for GPS-based vehicle tracking.

JAXA to launch test antenna for big satellite in September

2006-08-13T13:20:00.000Z

JAXA to launch test antenna for big satellite in September
Mainichi Daily News, Japan - 8 hours ago
The Japan Aerospace Exploration Agency, known as JAXA, said Saturday it will launch an antenna unit for its Engineering Test Satellite-VIII in September to check whether the satellite''s wide, flat antenna opens up properly in space.

Nangarhar TV network connected to satellite

2006-08-13T13:19:00.000Z

Nangarhar TV network connected to satellite
PakTribune.com, Pakistan - Aug 11, 2006
JALALABAD: Television network, broadcasting programmes for two hours, in the eastern Nangarhar province was connected to satellite, officials said.

New satellite begins sending weather data

2006-08-13T13:18:00.000Z

New satellite begins sending weather data
China Post, Taiwan -
Taiwan's recently launched satellite, FORMOSAT-3, has begun sending weather data, as the first micro-satellite of the constellation settled in its designated orbital plane, a senior official of the FORMOSAT-3 Program Office said yesterday.

XM Satellite gets emissions info request from FCC

2006-08-13T13:17:00.000Z

XM Satellite gets emissions info request from FCC
MarketWatch - Aug 11, 2006
NEW YORK (MarketWatch) -- XM Satellite Radio Holdings Inc. on Friday said the Federal Communications Commission requested additional information from the company related to emissions from several of its devices ...
Sirius Satellite resumes manufacturing radios Reuters
Sirius Satellite resumes manufacturing radios Reuters
UPDATE 1-FCC requests more data on certain XM receivers Reuters
BusinessWeek - Los Angeles Times - all 73 related »

Cable and Satellite TV Set Their Sights on Airwaves

2006-08-07T20:46:00.000Z

NEW YORK TIMES

August 7, 2006

Cable and Satellite TV Set Their Sights on Airwaves

By MATT RICHTEL and KEN BELSON

In the telecommunications business, it seems everyone wants to do everything. Now the biggest names in cable and satellite television are poised to get into mobile phone and wireless data services.

On Wednesday, Time Warner, Comcast, Cox Communications, EchoStar Communications and DirecTV, a unit of the News Corporation, will be among the 168 qualified bidders in the government’s multibillion-dollar auction of radio spectrum, that precious commodity that allows voice calls and data to be sent over the airwaves.

But these companies are not necessarily planning to use those frequencies for TV signals. Rather, they appear to be preparing to battle AT&T, Verizon Communications and other companies that sell traditional phone lines, broadband connections and wireless services — and are now diving into television.

Though the cable and satellite providers declined to discuss their strategies, many analysts expect them to buy at least enough spectrum to build networks that will allow them to sell wireless Internet connections and mobile phone services.

That would let the cable companies and, to a lesser degree, the satellite companies, complete a decade-long transformation: instead of just selling packages of TV channels, they are becoming one-stop shops with a full line of communications products.

“The nontraditional players will be the main bidders,” said Sharon Armbrust, an analyst at Kagan Research. “It’s a hole in their game plan they need to fill.”

An alliance that includes DirecTV and EchoStar has put the most money into a deposit for the bidding, more than $972 million. Another alliance, led by Comcast, Cox, Time Warner Cable and others, has put down $638 million. T-Mobile, Cingular Wireless and Verizon Wireless have made separate deposits.

To counter the cable and satellite companies, cellphone companies are expected to add to their stores of spectrum, particularly in cities where their networks get the most use. They may also bid up the price of some of the 1,122 licenses on sale to make it more expensive for their rivals to gain a foothold in an already intensely competitive market, analysts said.

Whoever wins the auctions, the mobile phone industry is at a crossroads. Now that nearly three out of every four Americans have cellphones, new subscriber growth is starting to slow and competition to retain customers and find new ones is intensifying.

As one indicator, newcomers like ESPN Mobile and Helio — which run over the Sprint Nextel network rather than operate their own — have so far found it tough to gain traction, analysts said.

Their challenges have raised questions about whether new entrants can survive in an already crowded market. They have also cast doubt on whether sophisticated data plans that let users download music, send e-mail and watch television are worth the investment.

Verizon Wireless, which has spent years and invested billions of dollars in its data services, is just starting to see the benefits. It brought in more than $1 billion from such services in the second quarter, nearly twice as much as in the second quarter of 2005. Cingular and Sprint have similar services up and running, making it tough for new entrants. It also means that adding more spectrum is a luxury rather than a necessity for the three largest wireless carriers.

“We will always look at spectrum,” said Doreen A. Toben, chief financial officer at Verizon Communications. “But we are in good shape through 2010, so there is no gun to our head to buy now.”

Verizon and other big carriers may tread lightly in this auction and instead focus on an auction scheduled for 2008, analysts said. That spectrum, now used by broadcasters, is better suited to the types of video services mobile phone carriers are keen to offer.

However, T-Mobile, the No. 4 player in the mobile market and a unit of Deutsche Telekom, does not offer many of these so-called third-generation services. It is expected to be an eager buyer of spectrum in this round so it can introduce services to catch up to its larger rivals.

“T-Mobile is quite spectrum-constrained in quite a few markets,” said Roger Entner, a telecommunications analyst at Ovum Research. “They desperately need that spectrum.”

The outcome of the auction is not likely to be known for weeks because the format allows for many rounds of bids. But it is unusual for its size and scope. The blocks of spectrum for sale — many of which were reserved for the military and other government agencies — stretch across the country, so they represent a rare chance for newcomers to quickly offer nationwide service.

Analyst estimates of how much the auction could raise for the Treasury vary widely, from $7 billion to $21.5 billion, which means it has the potential to surpass the $16.8 billion worth of bids in 2000 and 2001. The average paid per license, though, is unlikely to surpass the prices paid during the height of the dot-com boom, when some companies overbid and went bankrupt.

Some analysts also said the bidding might be tempered by the slumping values of wireless stocks and fears that the industry is already overcrowded.

Still, dozens of smaller and regional companies are expected to bid as they try to cover rural areas and expand into potentially lucrative services offering ultrahigh-speed wireless Internet connections, particularly in less-populated areas of the country.

But the risks for them are high. Even after buying spectrum, they will need to build cellphone towers and other network equipment, work with handset makers to develop phones and products, and market their services — all while giants like Cingular and Verizon counter their moves.

“This is not a mom-and-pop business,” Mr. Entner said. “You need billions of dollars to play this game. It’s quite likely that a few of the bidders of this auction will go out of business and the spectrum will be reallocated.”

Still, the auction could be good for consumers because new companies might get into the game and offer new services, increasing competition and bringing down prices, said Ranjan Mishra, a telecommunications industry analyst with Mercer Management Consulting.

“Given you have so many new players, you’ll have at least one new infrastructure player in each of the major markets,” he said.

The impact of giving consumers another choice for wireless service is unclear, though. The amount customers spend each month on cellphone plans has leveled off, even as carriers have introduced new services on networks that cost billions of dollars to build.

“There’s always a limit to how many guys can survive,” said Bret Sewell, chief executive of Venturi Wireless, which helps carriers offer multimedia services. “Some more competition will be good, but the incumbents are in the strongest position after many years of figuring out mobility.”

Despite the questionable economics, cable and satellite companies feel they have no choice but to participate in the auction. Cellphones are clearly a favorite with consumers, and companies that do not offer wireless services — even money-losing ones — risk losing customers to the Bell companies and their wireless units, Cingular, owned by AT&T and BellSouth, and Verizon Wireless, a joint venture of Verizon Communications and Vodafone.

For their part, the satellite companies, which have limited broadband services and no phone products, are expected to use any spectrum they buy to offer wireless broadband access, Mr. Mishra said.

“If EchoStar and DirecTV get the spectrum, they’re likely to build broadband networks and compete head-to-head with fiber,” the ground-based networks owned by cable and phone companies, he said. The cable companies now offer cellphone service only by piggybacking on Sprint’s network. Cable companies and Sprint have been working for months to develop products that will, say, let customers program their digital video recorders from their wireless handsets.

In the auction, an alliance of cable companies that includes Comcast, Cox and Time Warner Cable has joined with Sprint to bid for spectrum. Analysts say Sprint could provide expertise in operating wireless networks, while the cable companies could focus on how to combine their existing products with mobile phones without having to rely on Sprint’s network.

SES GLOBAL reports net profit increase of 28.6% on revenue growth of 16.6%

2006-08-07T15:21:00.000Z

PRESS RELEASE

Betzdorf, August 7th, 2006

Consolidated Financial Results for the six months to 30 June 2006

SES GLOBAL reports net profit increase of 28.6% on revenue growth of 16.6%

Organic growth and acquisition of New Skies drive strong first half results

HIGHLIGHTS

Revenues rose 16.6% to EUR 710.5 million (2005: EUR 609.2 million)

- Increasing 8.1 % to EUR 657.0 million (2005: EUR 608.1 million) on a recurring, same scope (excluding SES NEW SKIES) and constant exchange rate basis

EBITDA rose 14.1% to EUR 499.5 million (2005: EUR 437.6 million)

Net profit rose 28.6% to EUR 215.6 million (2005: EUR 167.7 million)

Earnings per share rose 34.5% to EUR 0.39 (2005 : EUR 0.29)

New Skies acquisition completed 30 March, strengthening global coverage

Industry-leading backlog of EUR 6,781.7 million (December 2005: EUR 6,489.9 million)

Share buybacks to July 31 totalled EUR 213.3 million - primarily earmarked for cancellation as part of the share buy-back programme - with EUR 148.9 million having been spent by June 30^th.

Net debt/EBITDA stood at 3.01 - in line with the Group’s stated target - compared to 2.39 on December 31, 2005

Romain Bausch, President & CEO of SES, said,

“The first six months of 2006 were significant for the development of the SES group.

We concluded the acquisition of New Skies Satellites in order to expand our connectivity offerings as well as to strengthen substantially our positioning in emerging markets. SES NEW SKIES’ performance is ahead of plan and progress in the integration makes us confident that we should achieve the synergy target. In addition, we further increased our shareholding in ND Satcom to 100%, strengthening our services capabilities in particular in the government segment.

We also continued to grow organically our core satellite infrastructure business, as well as our services activities, at a high single-digit rate. This growth came from increased demand for satellite capacity and services in the media, enterprise and government segments in our main markets of Europe and North America. In order to expand and renew our global satellite fleet, we successfully launched one satellite (ASTRA 1KR) in April this year, started the procurement of three others (AMC-21, CIEL-2 and AsiaSat 5), and will initiate two further programmes (ASTRA 3B and NSS-9) in the second half of 2006. These new satellites will allow us to continue to drive organic growth into the future.

We also launched a digital infrastructure project in the German market which should facilitate the smooth transition from analogue to digital broadcast technology with all its attendant benefits for the consumer. For SES, this represents an exciting opportunity to develop a new, profitable revenue stream.

In addition to these value-creating growth initiatives, we continued to deliver on our share buy-back programme, with EUR 213.3 million being spent by the end of July, thereby optimising our capital structure.

In sum, the first half has been a busy and productive time for SES and our solid performance throughout supports our efforts as we focus on achieving our objectives for the balance of the year.”

For further information please contact:

Mark Roberts

Investor Relations

Tel. +352 710 725 490

Mark.Roberts@ses-global.com

Yves Feltes

Press Relations

Tel. +352 710 725 311

Yves.Feltes@ses-global.com

Additional information is available on our website www.ses-global.com

PRESS / ANALYST TELECONFERENCES

A press call will be hosted at 11.00 Betzdorf time today, 7 August 2006. Journalists are invited to call: +44 (0) 20 8515 2304 five minutes prior to this time.

A call for investors and analysts will be hosted at 14.00 Betzdorf time today, 7 August 2006. Participants are invited to call: +44 (0) 20 8515 2303 five minutes prior to this time. Journalists may join the call in listen-only mode.

A presentation, which will be referred to in each call, will be available for download from the Investor Relations section of our website www.ses-global.com

SES Global to continue share buybacks depending on cash flow and R&D

2006-08-07T15:09:00.000Z

ROUNDUP SES Global raises FY EBITDA guidance as order book reaches ...
Forbes - 3 hours ago
PARIS (AFX) - Satellite operator SES Global increased its full-year EBITDA guidance, prompting a rise in its share price, as second quarter EBITDA came in at ...

SES Global to continue share buybacks depending on cash flow and ...
Forbes - 4 hours ago
PARIS (AFX) - SES Global will continue share buy backs in the remainder of the year depending on cash flow and on research and development costs, Marc Rigolle ... PARIS (AFX) - SES Global will continue share buy backs in the remainder of the year depending on cash flow and on research and development costs, Marc Rigolle, the satellite operator's chief financial officer, said in a conference call on first half results.

SES Global to continue share buybacks depending on cash flow and R&D
08.07.2006, 07:27 AM

SES has authority from shareholders to buy up another 5 pct of shares if it wishes after repurchasing shares worth 213.3 mln eur up to the end of July, equivalent to 3 pct of the total, he said.

Romain Bausch, the CEO, said the company currently has 'nothing concrete on the road map' for acquisitions, though he does not rule them out if suitable opportunities crop up.

He is 'confident of strong growth' from its existing operations and from recent acquisitions New Skies Satellites and ND Satcom.

The CEO expects 20 pct of German digital satellite television users to have signed up for SES Astra's new Doplhin platform by the time free-to-air digital services are switched off in 2008.

The figure is expected to rise to 80-90 pct by the time analogue television is switched off in Germany, scheduled for 2010-2012, he said.

Rausch defended a plan to charge German digital TV subscribers 3-3.50 eur per month for access to Dolphin, saying it will be a technical fee, similar to the 12-20 eur subscription charged by German pay-TV companies.

Doplhin is an interim name for the project and the final brand name will be different, he added.

equitynext@afxnews.com

SES Global to launch 3 satellites per yr to 2010, adding 240 ...
Forbes - 5 hours ago
PARIS (AFX) - SES Global plans to launch an average of three new satellites per year for the rest of the decade, adding more than 240 transponders and giving ...

08.07.2006, 06:32 AM
PARIS (AFX) - SES Global plans to launch an average of three new satellites per year for the rest of the decade, adding more than 240 transponders and giving the company the 'most dynamic' launch schedule of any satellite operator, Roman Bausch, SES CEO, said in a conference call on second quarter results.

All projects will exceed the company's threshhold for internal rate of return, he said.

SES said its order backlog from existing and new customers at the end of June was 6.782 bln eur, more than five times 2005 sales and up from 6.490 at the end of September.

SES Global raises FY EBITDA guidance as Q2 EBITDA tops estimates ...
Forbes - 7 hours ago
PARIS (AFX) - Satellite operator SES Global raised its full-year EBITDA guidance as second quarter EBITDA came in at the top end of expectations thanks to ...

SES Global Raises Profit Forecast on Satellite Demand (Update1)
Bloomberg - 7 hours ago
Aug. 7 (Bloomberg) -- SES Global, the world's largest satellite broadcaster, increased its profit forecast for 2006 as newly launched satellites spur sales. ...

SES Global increases profit forecast
Heise Online, Germany - 5 hours ago
SES Global, the world's leading satellite operator, has increased its profit forecast for 2006 after a strong first and second quarter. ...

SES GLOBAL, (Paris:SESG) (LuxX:SESG):
Black Enterprise, NY - 7 hours ago

 HIGHLIGHTS -- Revenues rose 16.6% to EUR 710.5 million (2005: EUR 609.2 million) -- Increasing 8.1 % to EUR 657.0 million (2005: EUR 608.1 million) on a ...

SES GLOBAL meldt netto winstgroei van 28,6 procent voor eerste ...
Netherlands Corporate News (persbericht), Netherlands - 7 hours ago
( BW)(SES-GLOBAL)(SESG.PA)(SESG.LU) Consolidated Financial Results for the Six Months to 30 June 2006; SES GLOBAL Reports Net Profit Increase of 28.6% on ...

SES Global Says Net Profit Rises 28.6% To EUR215.6 Million
Easy Bourse (Communiqués de presse), France - 7 hours ago
BRUSSELS -(Dow Jones)- SES GLOBAL (008808732.LUX) said Monday that its net profit rose 28.6% to EUR 215.6 million versus EUR 167.7 million in the previous year ...

SES Global Raises Profit Forecast on Satellite Demand

2006-08-07T15:07:00.000Z

SES Global Raises Profit Forecast on Satellite Demand (Update1)

Aug. 7 (Bloomberg) -- SES Global, the world's largest satellite broadcaster, increased its profit forecast for 2006 as newly launched satellites spur sales. The shares rose as much as 5.8 percent.

Excluding purchases, profit before interest, taxes, depreciation and amortization is now expected to be between 918 million euros ($1.18 billion) and 938 million euros in the full year, SES Global said in an e-mailed statement today. That's an increase of 23 million euros from the earlier forecast.

Sales growth will be ``approaching'' 10 percent this year, the Betzdorf, Luxembourg-based company said. ``Revenues will continue to grow faster than those of our peers.''

SES Global, which leases satellite capacity to broadcasting companies such as British Sky Broadcasting Group Plc and General Electric Co.'s NBC, launched two satellites last year and plans to bring more into orbit this year to help meet rising demand in Asia, the U.S. and Eastern Europe. The company is also selling new services such as digital television and mobile-phone calls using satellites to help increase sales.

Shares of the company increased as much as 60 cents to 10.89 euros in Paris, and traded at 10.65 euros as of 9:40 a.m., giving the company a market value of 5.86 billion euros. Before today, the shares had lost 30 percent since the start of 2006, compared with a 6.9 percent gain in France's SBF 120 index.

First-Half Profit

Net income in the first half rose to 215.6 million euros from 167.7 million euros a year earlier, the company said today. Sales at SES Global gained 17 percent to 710.5 million euros.

The company also in December agreed to buy competitor New Skies Satellites Holdings Ltd. for $760 million to expand coverage in Asia and services to clients including the U.S. Department of Defense.

Including acquisitions and restructuring costs, SES Global expects Ebitda to be in the range of 980 million euros to 1 billion euros in 2006 and sales to grow more than 20 percent, the company said today.

The combination with New Skies may help SES weather increased competition as the industry consolidates. Intelsat Ltd., the No. 2 global commercial-satellite provider, in August 2005 agreed to buy PanAmSat Holding Corp. for $3.2 billion in cash. Eutelsat Communication SA, the world's No. 3 satellite company, raised about 860 million euros in an initial share sale in December.

The New Skies acquisitions will help to cut costs by $30 million a year, SES Global said today. The savings will be fully achieved starting in 2008, with $20 million expected in 2007. SES Global expects to have about $38 million in costs in the next 12 months to integrate New Skies.

To contact the reporter on this story:
Simon Thiel in Munich at  sthiel1@bloomberg.net

Last Updated: August 7, 2006 03:42 EDT

Galileo, Galileo, soon to be figaro magnifico...

2006-07-29T01:16:00.000Z

Story URL: http://www.silicon.com/publicsector/0,3800010403,39160902,00.htm

Euro satellite navigation takes to the skies

Galileo, Galileo, soon to be figaro magnifico...

By Steve Ranger

Published: Thursday 27 July 2006

A European satellite navigation service could provide the platform for thousands of new applications based on the pinpoint location information it will be able to provide.

Galileo will be Europe's own global navigation satellite system, made up of a constellation of 30 satellites (27 operational and three spares), which will deliver real-time positioning. Accuracy will be down to about a metre.

At the moment, users of satellite navigation systems in Europe rely on the US GPS service or the Russian Glonass satellites - neither of which guarantees to maintain an uninterrupted service. On top of this, Galileo promises to be more accurate and provide services that US military-run GPS can't do so well.

The first test satellite - the Giove-A - was launched in December last year and another five satellites will go up in the next couple of years to test the project. Depending on satellite launches some services could be available from 2008.

While satellite positioning technology is now becoming commonplace through the use of sat-nav systems in cars, the success of Galileo could also pave the way for a number of new services that require more accuracy than GPS can currently offer.

EU figures suggest the new satellite system could deliver benefits of up to €74bn - not bad on a €3bn investment.

Lord Kinnock was one of the champions of Galileo when he was Europe's transport commissioner and is still a big supporter, praising the "limitless potential" of the constellation of satellites. "It's a long way from science fiction - it's science fact," he said.

James Raper, professor of geographic information science at City University, explained: "It will finish the job the GPS started. Location information must become as pervasive as timing information - and we've all got watches."

Galileo could allow thousands of niche applications to flourish - from bidding for car parking spaces in the centre of town to measuring a runner's weekly training progress - that can't be done at the moment, he said.

But the applications most likely to benefit are road charging and vehicle speed limiting systems.

Professor David Begg, director of the Centre for Transport Policy at the Robert Gordon University, Aberdeen said: "Galileo is not just desirable from a transport policy perspective but essential."

The answer to congestion is not to add more and more roads said Begg, until last year chairman of the Commission for Integrated Transport. Current congestion charging technology is too expensive to roll out everywhere, while GPS is not accurate enough to use to charge motorists, he said.

Speaking at a roundtable sponsored by Logica CMG, which is already working on a number of contracts in the project, Begg added: "What we need to be focusing on is more efficient use of the capacity we have and Galileo is the key to the door."

But just by changing the way people pay - moving from a flat-rate road tax to one based on usage - congestion can be cut by almost half, he claims. Motorists would either make fewer journeys or make more of them off-peak.

The government thinks that it could be feasible to use Galileo for road pricing by 2014.

While no government that wants to get re-elected is likely to make road pricing compulsory in the short term, another way satellite technology could become pervasive is through the use of vehicle speed-limiting technology. Drivers could get cheaper car insurance if they agree to have such technology in operation on their vehicles.

Europe's satellite positioning system edges forward

2006-07-29T01:13:00.000Z

Europe's satellite positioning system edges forward

Construction of a new satellite navigation system, Galileo, came a step closer to realization Monday when the two bidders for the contract to build and operate it submitted a common proposal. Their move could end months of indecision at the body set up to select a preferred bidder, which has so far been unable to choose between the two consortia.

Similar to the U.S. GPS (Global Positioning System), Galileo will transmit signals from a constellation of satellites, enabling handheld terminals on the ground to calculate their position, wherever they are in the world.

The two bidding consortia, Eurely and iNavSat, have submitted a joint proposal on the main elements of the project, said Hans Peter Marchlewski, general counselor for Galileo Joint Undertaking, the body set up by the European Commission and the European Space Agency to select a preferred bidder.

The group is evaluating the joint proposal, which could be accepted if the consortia can show it will offer better value than their individual bids, Marchlewski said. The joint proposal is not a full bid, the documents for which would run to several thousand pages, he said.

Eurely and iNavSat will have to wait until June 27 to find out whether their new proposal is accepted, he said.

Eurely's members are Aeropuertos Espa'oles y Navegaci'n A'rea (AENA), Alcatel SA, Finmeccanica SpA and Hispasat SA, while iNavSat comprises European Aeronautic Defence and Space Co. EADS NV (EADS Space), Inmarsat Ventures Ltd. and Thales SA.

With their joint proposal, the consortia say they can deliver the project at a lower cost, yet still have it ready on time. Galileo is due to enter service in 2008.

The Commission and the ESA are together advancing around '1.1 billion (US$1.3 billion) of the '3.2 billion they expect it will cost to develop Galileo. The system has found supporters outside of Europe too: The National Remote Sensing Center of China (NRSCC) has said it will contribute '200 million to Galileo's development.

Conceived for civilian applications, Galileo is intended to free European businesses from dependence on a military system controlled by a foreign government. There is no risk to users that service will suddenly be withdrawn or encrypted in case of conflict, its backers say.

While the basic Galileo signals will be free for all, additional encrypted signals will provide a higher level of service for a fee, which will allow its operators to repay the money advanced by the Commission and the ESA.

Galileo is intended to cooperate, rather than compete, with GPS: The U.S. and the European Union signed an agreement in 2004 to make the systems interoperable.

Another European satellite navigation service is due to begin transmitting soon. The European Geostationary Navigation Overlay Service (EGNOS) improves the accuracy of GPS for European users with appropriate receivers. It transmits additional signals from three geostationary satellites over Africa which, in conjunction with a network of ground stations at precisely known positions, can be used to improve the accuracy and calculate the reliability of the GPS signal at a given place and time. The additional signal makes EGNOS suitable for safety-critical applications, and improves accuracy to within 5 meters, according to the ESA.

The U.S. Federal Aviation Authority operates a similar service, Wide Area Augmentation System (WAAS), over North America.

CEBIT - Alcatel adds satellite to mobile TV picture

2006-07-29T01:11:00.000Z

CEBIT - Alcatel adds satellite to mobile TV picture
With the help of satellites, Alcatel SA aims to overcome a key hurdle in rolling out broadcast television services over mobile phones: the lack of available spectrum.
[CEBIT - Alcatel adds satellite to mobile TV picture]

With the help of satellites, Alcatel SA aims to overcome a key hurdle in rolling out broadcast television services over mobile phones: the lack of available spectrum.

The French telecommunications-equipment manufacturer proposes using the widely available S-Band frequency reserved for satellites to transmit broadcast signals both terrestrially and via satellite to mobile phones based on the DVB-H (Digital Video Broadcasting - Handheld) standard, instead of the UHF band. The UHF band is typically used for TV transmissions in Europe but has little or no capacity to spare, said Herbert Mittermayr, vice president of marketing for mobile TV systems at Alcatel, in an interview last week at the Cebit trade show in Hanover, Germany.

Broadcast mobile TV phones receive regular TV broadcasts using special antennas. An alternative service, which is already available, streams video data to phones over mobile networks. The big difference is broadcast's one-to-many relationship versus a streamed transmission's one-to-one.

The Alcatel proposal calls for equipping base stations with S-Band repeaters and, in addition, using satellites capable of transmitting in the S-Band to deliver content to 3G (third-generation) phones enabled with DVB-H technology in three different ways: base-station streaming, base-station broadcasting and satellite broadcasting.

Each delivery service has its own advantages and disadvantages.

While the streamed service via the base station offers nearly unlimited channels and deep indoor coverage, it can support only a limited number of subscribers in a given area of the cellular network.

By comparison, the base-station broadcast service can support an unlimited audience with good indoor coverage but offers only 27 channels.

While the satellite-based broadcast service also can support an unlimited audience, especially in rural areas, it offers poor indoor coverage and only nine channels.

"Users don't have to worry about which service to select," said Mittermayr. "An intelligent content management system decides which of the three delivery channels is the most appropriate."

In addition to its availability, another key advantage of the S-Band is required antenna length. The frequency requires an antenna length of 6.5 centimeters, compared to UHF's 60 centimeters, according to Mittermayr.

The S-Band is a satellite allocation operating in the 2,170MHz - 2,220MHz frequency range, which is immediately adjacent to the 3G band.

Several companies are currently developing chipsets and handsets compliant with the S-Band, as well as designing antennas and other components, according to Alcatel.

Chip maker DiBcom SA is designing a new chipset that will be compatible with the DVB-H standard working in the S-Band, Alcatel said.

Sagem Communication SA is developing DVB-H phones that support both UHF and S-Band, according to Alcatel.

http://www.pcwelt.de/news/englishnews/NetworkingTelecommunication/133754/

No obvious buyers seen for Raytheon business jet unit

2006-07-29T00:39:00.000Z

No obvious buyers seen for Raytheon business jet unit Reuters
Defense profits up, Raytheon may sell aircraft unit Reuters
Raytheon profit up on defense, jet sales MSN Money

Raytheon profit jumps; explores sale of aircraft unit
Boston Globe, United States - 16 hours ago
By Robert Weisman, Globe Staff | July 28, 2006. Waltham defense giant Raytheon Co. yesterday posted a 54 percent jump in second-quarter ...
Defense spending boosts Raytheon Lowell Sun
Raytheon 2Q earnings higher than expected Arizona Daily Star
Raytheon Co.'s net income rises 54% Rocky Mountain News
Bloomberg - Bloomberg -

Toronto Star

Raytheon, Northrop Grumman Report Strong Earnings; L-3's Net Down ...
Seeking Alpha, NY - 11 hours ago
Summary: Buoyed by demand for military electronics and information-technology services, defense contractors Raytheon Co. (RTN) and Northrop Grumman Corp. ...
Raytheon profits jump 54% Fort Wayne Journal Gazette
Raytheon may sell aircraft unit WAVE
Defense contractors gain in quarter Bryan College Station Eagle
Salt Lake Tribune - Toronto Star -

Montreal Gazette

Bombardier monitoring possible Raytheon aircraft division spinoff
Ottawa Citizen, Canada - 17 hours ago
MONTREAL - Bombardier Inc., the world's leading business jet builder, reacted cautiously yesterday to US defence contractor Raytheon Co.'s plan to sell or spin ...
Bombardier keeps eye on Raytheon Montreal Gazette

Raytheon explores sale
The Wichita Eagle, KS - 18 hours ago
BY MOLLY McMILLIN. A strong aircraft market is one reason it's a good time for Raytheon Co. to explore ... said Thursday. Raytheon Co. ...
Raytheon not for sale, yet Salina Journal
Another aircraft company, another ‘for sale’ sign The Wichita Eagle

Raytheon Considers Selling Wichita Plant
KAKE, KS - 23 hours ago
July 27 - Raytheon reveals it's considering selling its Wichita aircraft division, news which shouldn't really be that surprising. ...
Raytheon considering 'strategic alternatives' for Raytheon ... Phoenix Business Journal
Raytheon may sell Raytheon Aircraft Kansas.com
Raytheon mulls sale of business aircraft division Flight International
Kansas.com -

RAYTHEON AIRCRAFT HISTORY
Kansas.com, KS - 18 hours ago
1932: Beech Aircraft Corp. is founded in Wichita by Walter H. and Olive Ann Beech and produces the Model 17 Beechcraft Staggerwing. ...
Raytheon explores sale options for Wichita aircraft maker Kansas.com
Timeline: Raytheon Aircraft's history Kansas.com
Email an Article to a Friend Aero-News Network

Raytheon reports profit increase, raises full-year guidance
Boston Herald, United States - Jul 27, 2006
... Raytheon said net income for the April-June period was 310 million dollars or 69 cents per share. That’s up from $201 million or 44 cents per share. ...
Raytheon reports profit increase, raises full-year guidance KVOA.com
Raytheon reports profit increase, raises full-year guidance KVOA.com

Textron 'not interested' in Raytheon jet business

2006-07-29T00:36:00.000Z

Textron 'not interested' in Raytheon jet business

Fri Jul 28, 2006 10:08am ET

BOSTON, July 28 (Reuters) - Diversified manufacturer Textron Inc. (TXT.N: Quote, Profile, Research) is "not interested" in buying defense contractor Raytheon Co.'s (RTN.N: Quote, Profile, Research) corporate jet business, a Textron spokeswoman said on Friday.

Raytheon on Thursday said it would seek to sell its small-jet unit, which makes Beechcraft and Hawker business and training planes. It competes with Textron's Cessna unit.

Kim Reingold, a spokeswoman for Providence, Rhode Island-based Textron, said that in making acquisitions, Textron would be "looking at businesses that are complementary to our existing portfolio," rather than building up businesses it was already engaged in.

Raytheon explores sale of subsidiary

2006-07-29T00:34:00.000Z

FINANCIAL TIMES

Raytheon explores sale of subsidiary (requires subscription)

Raytheon, the US missile manufacturer, yesterday said it was exploring a sale or a spin-off of its corporate aircraft...

By James Boxell in London · Financial Times, Jul 28, 2006

Raytheon explores sale of subsidiary

By James Boxell in London

Published: July 28 2006 03:00 | Last updated: July 28 2006 03:00

Raytheon, the US missile manufacturer, yesterday said it was exploring a sale or a spin-off of its corporate aircraft subsidiary as it looked to concentrate on its core defence business.

Credit Suisse, the investment bank, had been hired to explore a "potential sale of the business, an initial public offering or spin-off to shareholders or some combination thereof", the company said.

The rest of this article is for FT.com subscribers only

EchoStar Looks to Supreme Court for Relief

2006-07-29T00:29:00.000Z

EchoStar Looks to Supreme Court for Relief

By Ted Hearn 7/26/2006 7:27:00 PM

EchoStar Communications is planning to ask the U.S. Supreme Court to protect more than a half-million subscribers from losing access to out-of-market feeds of ABC, NBC, CBS and Fox programming if a private settlement with hundreds of local TV stations can't be reached.

As a result of court setbacks in copyright disputes, EchoStar may have to terminate distant network service to 1.2 million customers in all, including about 600,000 who have been receiving the programming legally. An abrupt cutoff would likely inflict financial pain on EchoStar and generate a strong political backlash on Capitol Hill.

Legal scenarios are expected to play out in three courts as key House lawmakers wait to learn whether thousands of voters are going to lose access to network programming stemming from a court case that has dragged on for years and received little attention.

First, EchoStar Tuesday asked the U.S. Court of Appeals for the 11^th Circuit -- which authorized the injunction back in May and just rejected EchoStar’s appeal -- to stay the ruling pending the outcome of the appeal it will file in the Supreme Court.

If the 11^th Circuit rejects EchoStar’s stay motion, the case would return to a U.S. District Court in south Florida for processing of the injunction.

Second, in preparation of the stay denial, EchoStar and network-affiliated TV stations that sued EchoStar jointly asked the lower court Tuesday to postpone any injunction until Sept. 11. Both sides informed the court that they were attempting to reach a settlement.

The parties were urged to file for a 45-day postponement by key members of the House Energy and Commerce Committee, including chairman Joe Barton (R-Texas).

Lastly, if the District Court ignores the postponement request, EchoStar still has the option of asking the Supreme Court to lift the injunction while considering the merits of the appeal of the 11^th Circuit's May ruling.

In that decision, the 11^th Circuit found that EchoStar had flagrantly broken the law by selling out-of-market network signals to thousands of ineligible customers.

E-tailer Stocks: Enterprise Value / EBITDA

2006-07-29T00:28:00.000Z

E-tailer Stocks: Enterprise Value / EBITDA

Posted on Jul 27th

Rob Zenilman submits: As of July 25 2006, positive Enterprise Value/ EBITDA (ttm) ratios of stocks covered in the E-tailer sector ranged from 32.7 (STMP) down to 5.0 (BKS), with a median value of 12.8.

* View More Retail Sector Charts *
Data in table version -- click on a ticker for opinion and analysis of the company:

		TTM	Enterprise	EBITDA	EV/
Ticker	Company	Ending	Value ($000)	($000)	EBITDA
AAPL	Apple Computer Inc.	07/19/06	$43,647.84	$2,556.00	17.1
ADBL	Audible, Inc.	05/15/06	$147.38	-$5.64	-26.1
ALOY	Alloy Inc.	06/08/06	$160.86	$17.12	9.4
AMZN	Amazon.com Inc.	04/27/06	$13,957.09	$587.00	23.8
BFLY	Bluefly Inc.	05/11/06	$136.85	-$3.66	-37.4
BKS	Barnes & Noble Inc.	06/02/06	$2,216.10	$443.32	5.0
DELL	Dell Inc.	06/07/06	$39,561.45	$5,084.00	7.8
DSCM	Drugstore.com Inc.	05/12/06	$232.22	-$9.06	-25.6
FLWS	1-800-Flowers.com In	05/12/06	$349.40	$27.39	12.8
FTD	FTD Group Inc.	05/10/06	$646.59	$65.96	9.8
IACI	IAC/InterActiveCorp	05/10/06	$6,761.15	$1,029.96	6.6
NFLX	Netflix, Inc.	05/09/06	$775.22	$49.50	15.7
NILE	Blue Nile Inc.	05/11/06	$414.33	$19.73	21.0
ODMO	Odimo Inc.	05/15/06	$6.23	-$10.81	-0.6
OSTK	Overstock.com Inc.	05/10/06	$442.52	-$13.42	-33.0
POSH	BabyUniverse, Inc.	05/15/06	$44.41	-$.28	-161.0
REDE	RedEnvelope Inc.	06/29/06	$83.04	-$.82	-101.3
STMP	Stamps.com Inc.	05/09/06	$438.18	$13.39	32.7

Hardware Stocks: Enterprise Value / EBITDA

2006-07-29T00:26:00.000Z

Computer System Manufacturer Stocks: Enterprise Value / EBITDA

Posted on Jul 26th

Rob Zenilman submits: As of July 25 2006, positive Enterprise Value/ EBITDA (ttm) ratios of stocks covered in the Computer Hardware sector ranged from 21.2 (SUNW) down to 3.5 (LNVGY), with a median value of 7.8.

* View More Hardware Sector Charts *
Data in table version -- click on a ticker for opinion and analysis of the company:

		TTM	Enterprise	EBITDA	EV/
Ticker	Company	Ending	Value ($000)	($000)	EBITDA
AAPL	Apple Computer Inc.	07/19/06	$43,647.84	$2,556.00	17.1
CRAY	Cray Inc.	05/09/06	$308.10	-$10.19	-30.2
DELL	Dell Inc.	06/07/06	$39,561.45	$5,084.00	7.8
FJTSY	Fujitsu Ltd.	01/31/06	$21,669.35	$3,558.46	6.1
GTW	Gateway Inc.	05/09/06	$392.53	$66.28	5.9
HPQ	Hewlett-Packard Co.	06/08/06	$78,367.82	$8,387.00	9.3
IBM	International Busine	07/18/06	$127,281.36	$20,516.00	6.2
LNVGY	Lenovo Group Ltd.	07/12/06	$1,345.22	$384.29	3.5
RACK	Rackable Systems Inc	05/15/06	$783.56	$41.38	18.9
SUNW	Sun Microsystems Inc	05/05/06	$12,523.68	$592.00	21.2
UIS	Unisys Corp.	07/19/06	$2,209.84	-$3.90	-566.6

BIDU, CTRP, GIGM, GSOL, NCTY, NTES, SINA, SNDA, SOHU China To Become Top Internet Use Nation

2006-07-29T00:22:00.000Z

China To Become Top Internet Use Nation; Fare Is Decidedly Youth-Focused

http://china.seekingalpha.com/article/14144

Posted on Jul 24th with stocks: BIDU, CTRP, GIGM, GSOL, NCTY, NTES, SINA, SNDA, SOHU

Helen Wang submits: Yesterday’s Xinhua news revealed the new statistics from China Internet Network Information Centre [CNNIC]: the number of Internet users in China has reached 123 million, representing a 19.4 per cent growth since June 2005.

This means, in a year or two, China will “officially” surpass the United States and become the number one country in term of Internet users.

While this sounds encouraging for people who want to tap into the Internet boom in China, a closer look at the numbers showed some signs of a problem: more than 80 percent of the Chinese netizens are below age 35, with 40 percent of them between age 18 – 24. The ratio of high school students is even higher, at 50 percent

As Lu Bowang, CNNIC senior consultant, said, "It may be a worrying phenomenon that the ratio of Internet users above 30 years old is dropping because the Internet economy is too much focused on entertainment and young users."

I remember my friends in China complained about the silliness and mindlessness of the content on the Internet. Compared with the US, majority of people on the Internet in China are young people seeking entertainment and fun, versus professionals searching for information and knowledge.

I believe one of the reasons is because there is less outdoor space in China. After school, those kids, full of energy, don’t have many places to go. Sitting in front of computers and escaping into cyberspace becomes a natural alternative.

As for business people, they usually have their secretaries, typically young girls, to surf the Internet for them for any business related information. No wonder this resulted in a country of young netizens!

Sirius Satellite Radio: Bleeding Cash Faster Than Subscriber Growth

2006-07-29T00:14:00.000Z

Sirius Satellite Radio: Bleeding Cash Faster Than Subscriber Growth

Posted on Jul 21st with stocks: SIRI

Rich Vanden Boogard submits: I just read a line from a Motley Fool RSS feed:

Everywhere you look, you will find companies that have seen their shares plummet despite good news... Sirius Satellite Radio's (Nasdaq: SIRI) shares have been cut in half since peaking two years ago despite blowing past subscriber growth targets.

Um, yeah, but they continue to lose more and more money as they grow subscibers. Adding subscribers doesn't mean value's been added and the stock should go up.

Lest we not forget Krispy Kreme Donuts (KKD) which suddenly sprouted stores everywhere?

Take a look at earnings per share for SIRI (click to enlarge):

source: Factset Research Systems

What's worse, SIRI is not even profitable at the Gross Margin level. Ugh.

I'll give 'TMFBreakerRick' the benefit of the doubt - because I'm sure I've written some silly things before too.