Satellite giant Intelsat reported record annual earnings, but is still making a loss as it released its fourth quarter results.

The Bermuda-based company had annual revenues of $2,183.1 million for the year ending December 31, 2007. However, it still recorded a net loss of $191.9 million. The fourth quarter figures painted a similar picture as record revenues of $575.5 million sat alongside a net loss of $2.6 million.

Intelsat CEO Dave McGlade said: "In 2007, Intelsat demonstrated the ability to deliver revenue growth, improved operating profit margins and positive free cash flow from operations even as we made significant investments in our fleet. Our fourth quarter results provided a strong finish to a good year, with revenue growth in excess of seven percent more than the prior year quarter after excluding our legacy channel service offering."

The company is seeing growth in sales of its network-services and government business segments, while its media business declined slightly as a percentage of overall revenues, from 37 percent in Q4 of 2006 to 36 percent in Q4 2007.