PARIS — Satellite fleet operator Intelsat said an exceptionally large level of government contracts expiring in since April have all been renewed at slightly better-than-expected prices.
As a result, Intelsat was able to report flat government-sourced revenue for the three months ending June 30 compared to the previous year, after accounting for a reclassification of revenue from another division and removing the effect of the ASC 606 accounting-standard change.
Intelsat knew going into the government contract renewal cycle, which concerned some $55 million in business, that . . .
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