STÂ’s obsession with chasing after advertising dollars will selectively omit such news.
Well, its second-half outlook would be better than the first six months, analysts said.
http://yahoo.reuters.com/news/articlehybrid.aspx?type=comktNews&storyID=urn:newsml:reuters.com:20070810:MTFH77527_2007-08-10_08-56-25_BKK207831&pageNumber=0&imageid=&cap=&sz=13&WTModLoc=HybArt-C1-ArticlePage2Thai Shin Sat Q2 net loss more than forecastsBANGKOK, Aug 10 (Reuters) - Thailand's Shin Satellite PCL (SATT.BK: Quote, Profile , Research) reported a worse-than-expected quarterly net loss on Friday, dragged down by higher interest income tax payments despite higher revenues.
Shin Sat, which operates IPSTAR, the world's largest broadband satellite, posted a net loss of 83 million baht ($2.4 million), or 0.08 baht per share, in the second quarter compared with a 34 million baht net loss a year earlier.
Seven analysts polled by Reuters had forecasted an average net loss of 56 million baht.
Second-quarter revenues rose 16 percent to 2.04 billion baht, boosted by IPSTAR user terminals sales in Australia and New Zealand. It sold 11,116 IPSTAR user terminals in the quarter, taking its total to 86,203.
But operating costs rose 11 percent from a year earlier to 1.8 billion baht due to marketing costs in promotions in the satellite and telephone businesses.
Shin Sat, which had $400 million in foreign debt, earned $200 million in investment gains in the quarter which would be used to repay $141 million of long-term debt, the statement said.
The firm paid 51 million baht income tax on the gains and booked a 7 percent increase in interest expenses.
Shin Sat had a foreign exchange gain of 213 million baht compared with a 146 million baht gain in the same period last year, its financial statement showed.
Its second-half outlook would be better than the first six months, due mainly to steady sales growth of IPSTAR user terminals, analysts said.
Two analysts polled by Reuters Estimates forecast the firm would make a 321 million baht net profit this year, compared with a net loss of 46 million baht a year earlier.
The firm should win more new clients overseas, especially in China and India, and sell more IPSTAR equipment, they said.
Shin Sat, which operates five satellites, was founded by ousted Prime Minister Thaksin Shinawatra, whose relatives sold their controlling stake in Shin Corp (SHIN.BK: Quote, Profile , Research), which owns 41 percent of Shin Sat, to Singapore's Temasek Holdings [TEM.UL] last year.
The firm's major rivals include Asia Satellite Telecommunications Co. (1135.HK: Quote, Profile , Research) (SAT.N: Quote, Profile , Research).
At 0840 GMT, Shin Sat shares were down 1.9 percent at 10.30 baht, while the overall Thai stock market <.SETI> was down 1.57 percent. ($1=34.00 Baht)