Bermuda-based Intelsat Ltd., the world's leading provider of fixed satellite services, yesterday reported a net loss of $412.7 million for the first quarter, largely because of costs related to an acquisition.

Intelsat Global acquired all the equity ownership of its parent Intelsat Holdings on February 4 and restructuring and transaction costs for the move totalled some $313.1 million, Intelsat said yesterday.

Total revenue of $572.7 million increased by $54.4 million, or 11 percent, for the three months through March this year, as compared to $518.2 million for the same period in 2007.

In the first quarter, Intelsat furthered its penetration of the global direct-to-home television platform sector, adding its 28th platform with the announcement of a multi-year, multi-transponder agreement with Colombia's Elite Entertainment Television, S.A.

Intelsat' distribution of high definition video continued to grow, with over 75 channels now carried by the Intelsat system, primarily in North America and Europe.

Panasonic announced the selection of Intelsat for its new in-flight passenger broadband service. The GlobalConnex Network Broadband service now supports over 75 private networks connecting thousands of remote locations.

Intelsat's system average fill rate on its 2,197 station-kept transponders increased to 78 percent at March 31, 2008 as compared to 76 percent at December 31, 2007. Intelsat chief executive officer Dave McGlade said: "Intelsat delivered a strong first quarter. We achieved broad-based revenue growth, with increases reported by each of our three primary customer sectors, Media, Network Services and Government.

"The powerful forces of globalisation, technology - including mobility, IP networks and high definition television - and deregulation continue to drive demand for our global communications infrastructure, as illustrated by our record contract backlog at quarter end of $8.3 billion.

"Operationally, we are performing to our plan. Costs are in line with our objectives and margins are expanding, even as we invest in new service introductions to capitalise on mobility and broadband opportunities."