SATS 1Q FY14/15

Revenue                                    = $435.2m
Operating Profit                        = $39.7m
PATMI                                     = $43.3m
Underlying Profit From Ops     = $43.4m
Underlying Net Margin             = 10%
PATMI Margin                         = 9.9%
Debt-to-Equity                          = 0.08
EPS                                           = 3.9 cents
NAV                                         = $1.30
Cash & Cash Equiv                   = $395.1m
FCF                                            = $31.1m

Key costs are Staff Costs ($203.9m) and Raw Materials (85.3m) . Share of after tax profits from associates/JV dropped 16.8% arising from lower cargo volumes.