PanAmSat Corp is reporting earnings of about $59.23 million (E55.47m) or 39 cents per share on revenues of $322.25 million during the second quarter of this year. This compares with second quarter 1999 earnings of about $30.57 million or 20 cents per share on revenue of $200.38 million.

The main factor in the increased revenue and earnings was “higher revenues from new long-term, sales type lease transactions with major media companies,” the company said. Sales-type lease revenues were $129.6 million for the second quarter of this year, compared with $6 million for the same period of 1999, the company explained.

For the second quarter of this year, earnings before net interest, income taxes, depreciation and amortisation (EBITDA) were $221.4 million, compared with $150.9 million for the same period of last year.

For the first six months of this year, PanAmSat said, it earned $115.784 million or 77 cents per share on revenues of $621.353 million. This compares with the first half of 1999, when the company earned $61.033 million or 41 cents per share on revenue of $393.891 million.

Again, this “was primarily due to $217.2 million of new sales and sales-type lease revenues recorded during 2000,” the company said.

EBITDA during the first half of this year stood at $422.4 million, compared with $296.9 million for the first half of last year.