{"id":85821,"date":"2010-11-11T18:45:32","date_gmt":"2010-11-11T10:45:32","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/orbcomm-seeks-new-ais-deals-after-completing-coast-guard-contract\/"},"modified":"2010-11-11T18:45:32","modified_gmt":"2010-11-11T10:45:32","slug":"orbcomm-seeks-new-ais-deals-after-completing-coast-guard-contract","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/orbcomm-seeks-new-ais-deals-after-completing-coast-guard-contract\/","title":{"rendered":"Orbcomm Seeks New AIS Deals After Completing Coast Guard Contract"},"content":{"rendered":"<p><strong>Orbcomm<\/strong>\u2019s 2010 third quarter total revenues jumped 97.9 percent from the same period in 2009 due to a boost in deferred <strong>U.S. Coast Guard<\/strong> AIS service revenue, the company announced in its latest results, issued Nov. 10.<br \/>\n&nbsp;&nbsp;&nbsp; Orbcomm reported revenues of $13.9 million in the most recent  three-month period, which included $5.9 million in revenue from the  Coast Guard. Orbcomm said it completed its agreement with the Coast  Guard for the AIS service and determined that the remaining unamortized  deferred AIS services revenue under the contract should be recognized in  the third quarter. Even without the AIS service recognition, Orbcomm\u2019s  revenues still increased by 13.9 percent from its previous third-quarter  totals.<br \/>\n&nbsp;&nbsp;&nbsp; \u201cThe prepaid deferred revenue primarily represents one deliverable  under the agreement to design, develop, launch and operate a single  satellite equipped with the capability to receive, process and forward  AIS data for the purpose of demonstrating that low-Earth orbit  satellites are able to receive and process AIS signals. We are pursuing  new AIS agreements with agencies within the U.S. government,\u201d Orbcomm  CEO Marc Eisenberg said in a statement.<br \/>\n&nbsp;&nbsp; The company\u2019s expenses totaled $14.3 million for the second straight  quarter. Eisenberg said the company was stuck with a $6.5 million  impairment charge for its Quick-Launch 6 satellite during the third  quarter. \u201cThis impairment charge \u2026 was to write-off Quick-Launch 6 after  entering into a settlement agreement with OHB. Quick-Launch 6, which  was not launched in June 2008 as part of our earlier agreement, was  expected to be retained for future deployment. All of the Quick-Launch  and concept demonstration satellites have now been fully depreciated or  impairment charges have been taken for the cost of these satellites,\u201d  Eisenberg said.<br \/>\n&nbsp;&nbsp; Increased sales at Orbcomm\u2019s Japanese subsidiary helped push product  sales from $92,000 in the third quarter of 2009 to $937,000 in 2010.  Orbcomm\u2019s billable subscribers also increased 9.2 percent to 556,000.  Total net additions during the quarter were 16,000, with net satellite  subscriber additions of about 13,000 and terrestrial subscribers  increasing more than 3,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Orbcomm\u2019s 2010 third quarter total revenues jumped 97.9 percent from the same period in 2009 due to a boost in deferred U.S. Coast Guard AIS service revenue, the company announced in its latest results, issued Nov. 10. &nbsp;&nbsp;&nbsp; Orbcomm reported revenues of $13.9 million in the most recent three-month period, which included $5.9 million in [&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-85821","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85821"}],"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=85821"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85821\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=85821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=85821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=85821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}