{"id":84397,"date":"2011-08-11T19:51:00","date_gmt":"2011-08-11T11:51:00","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/orbcomm-makes-notable-gains-in-2011-second-quarter\/"},"modified":"2011-08-11T19:51:00","modified_gmt":"2011-08-11T11:51:00","slug":"orbcomm-makes-notable-gains-in-2011-second-quarter","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/orbcomm-makes-notable-gains-in-2011-second-quarter\/","title":{"rendered":"Orbcomm Makes Notable Gains in 2011 Second Quarter"},"content":{"rendered":"<p>[08-11-11] Satellite and cellular data communications solutions provider <strong>Orbcomm<\/strong> generated a 37.9 percent increase in its 2011 second-quarter revenues at $10.8 million \u2014 a performance which analysts said positions the company to deliver substantial growth in the next 18 months to 24 months.<br \/>\n&nbsp; &nbsp;Orbcomm\u2019s latest financial results, issued Aug. 10, attributed the revenue increase to growth in the company\u2019s satellite service revenues and contributions from its recent acquisition, StarTrak. Orbcomm\u2019s service revenues jumped 23.4 percent from $7.3 million in the same period last year to $9 million in 2011. Product sales also increased during the second quarter to $1.8 million in 2011 from $560,000 in 2010.<br \/>\n&nbsp; &nbsp;The company\u2019s results left analysts feeling bullish about Orbcomm\u2019s long-term potential. <strong>Raymond James<\/strong> analyst Chris Quilty said that Orbcomm will soon place new satellites in service, which will help drive service revenues, average revenue per user (ARPU) and EBITDA margins even higher.<br \/>\n&nbsp; &nbsp;\u201cOrbcomm remains one of the most attractively valued properties in the satellite industry. The company\u2019s second quarter results were nicely above our forecast, and the recent StarTrak acquisition is already making a positive contribution even though Orbcomm only owned the company for half of the second quarter,\u201d said Quilty. \u201cStarTrak provided an 18 percent sequential bump in Orbcomm\u2019s monthly ARPU. New orders have also been strong over the past two months, thus adding to its parent company\u2019s building momentum.\u201d<br \/>\n&nbsp; &nbsp;Orbcomm drastically narrowed its net losses from $3.3 million in the second quarter of 2010 to $541,000 in the most recent quarter. The company\u2019s EBITDA result was a positive gain of $1.1 million, compared with an EBITDA loss of $2.4 million in the prior year period.<br \/>\n&nbsp; &nbsp; The company billable subscriber base increased 12.3 percent to 606,000 customers. Its net subscriber additions during the quarter were about 17,000, which comprised of more than 18,000 satellite additions and a decrease of 1,000 terrestrial subscribers during the quarter.<br \/>\n&nbsp; &nbsp;\u201cWe are pleased to have completed the StarTrak acquisition and see the business contributing to Orbcomm\u2019s growth strategy. Our plan to add capabilities and services is being confirmed with the success we have seen at StarTrak,\u201d Orbcomm CEO Marc Eisenberg said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[08-11-11] Satellite and cellular data communications solutions provider Orbcomm generated a 37.9 percent increase in its 2011 second-quarter revenues at $10.8 million \u2014 a performance which analysts said positions the company to deliver substantial growth in the next 18 months to 24 months. &nbsp; &nbsp;Orbcomm\u2019s latest financial results, issued Aug. 10, attributed the revenue increase [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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-84397","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84397"}],"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=84397"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84397\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=84397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=84397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=84397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}