[Via Satellite 05-09-2016] Inmarsat<\/b> revenue for the first quarter of 2016 was $298.6 million, down 2 percent or $6.2 million, from the first quarter of 2015. Revenue in maritime and enterprise services decreased by $6.7 million and $4.9 million, while government and aviation increased by 1.9 million and $4.1 million, respectively.<\/p>\n
\u201cMany of our markets face short-term headwinds which intensified in the first quarter, leading to a softer revenue performance than expected, although we remain highly competitive in each of our core markets, growing market share and diversifying the business to plan,\u201d said Rupert Pearce, Inmarsat\u2019s CEO.<\/p>\n
Inmarsat said the foundations for future double-digit revenue growth are largely established, with its Global Xpress (GX) High Throughput Satellite (HTS) network now globally operational. The company still anticipates annual GX revenues of $500 million by the end of 2020, though this is to be updated in due course for revenues from I-5 F4 when the business plan for the un-launched satellite is confirmed.<\/p>\n
Inmarsat said that, for operational reasons, the increase in GX revenues is proceeding more slowly than previously expected. Combined with market challenges, the company is revising its guidance downward by $50 million for 2016 to between $1.175 billion and $1.25 billion.<\/p>\n
\u201cWhilst in the near term business growth will continue to be challenging in choppy markets, we remain very well positioned for future growth and diversification, and indeed I remain confident that the foundations that we are establishing will deliver the expected medium term growth,\u201d said Pearce.<\/p>\n","protected":false},"excerpt":{"rendered":"
[Via Satellite 05-09-2016] Inmarsat revenue for the first quarter of 2016 was $298.6 million, down 2 percent or $6.2 million, from the first quarter of 2015. Revenue in maritime and enterprise services decreased by $6.7 million and $4.9 million, while government and aviation increased by 1.9 million and $4.1 million, respectively. \u201cMany of our markets […]<\/p>\n","protected":false},"author":1,"featured_media":71121,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-71117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/71117"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=71117"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/71117\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/71121"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=71117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=71117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=71117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}