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PRESS RELEASES
BETHESDA, MD, April 30 /PRNewswire-FirstCall/ - Stratos Global
Corporation, the world's trusted leader in delivering vital voice, data and IP
communication services today announced financial results for the first quarter
ended March 31, 2008.
Financial Highlights
(in millions of U.S. dollars, except per share amounts)
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First quarter ended
March 31
2008 2007
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Revenue $ 147.5 $ 144.6
EBITDA(x) $ 23.9 $ 19.3
Net earnings (loss) $ 0.7 $ (4.2)
Basic and diluted earnings (loss) per share $ 0.02 $ (0.10)
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(x) EBITDA (a non-GAAP measure) is defined by the Corporation as earnings
before interest expense, income taxes, other costs (income),
management long-term incentive expense, depreciation and
amortization, non-controlling interest and equity in earnings of
investee.
The unaudited interim consolidated financial statements and management's
discussion and analysis of financial condition and results of operation are
available on SEDAR, www.sedar.com and the Corporation's website,
www.stratosglobal.com
For the first quarter ended March 31, 2008, the Corporation achieved
revenue of US$147.5 million, a 2 percent increase compared with US$144.6
million in the same period in 2007. EBITDA for the first quarter of 2008
increased by 24 percent to US$23.9 million compared with $19.3 million for the
first quarter of 2007. The significant improvement in EBITDA was driven by the
increased revenue and cost reductions resulting from the integration of Xantic
and other initiatives to improve operating efficiencies.
Net earnings for the first quarter of 2008 were US$0.7 million, or US$0.02
per share, compared with a net loss of US$4.2 million, or US$0.10 per share
during the same period in 2007.
Cash flow from operations (including working capital changes) in the first
quarter of 2008 totaled US$5.0 million, compared with US$5.5 million generated
during the first quarter in 2007. The decrease primarily reflects an increased
investment in working capital partially offset by higher EBITDA.
About Stratos
Stratos is the world's trusted leader for vital communications. Stratos
offers the most powerful and extensive portfolio of remote communications
solutions including mobile and fixed satellite and microwave services. More
than 20,000 customers use Stratos products and industry-leading value added
services to optimize communication performance. Stratos serves U.S. and
international government, military, first responder, NGO, oil and gas,
industrial, maritime, aeronautical, enterprise, and media users on seven
continents and across the world's oceans. For more information visit
www.stratosglobal.com
Caution Concerning Forward-Looking Statements
This document contains statements and information about potential future
circumstances and developments. Such statements and information are qualified
by the inherent risks and uncertainties surrounding future expectations
generally and may differ materially from Stratos Global Corporation's actual
future results. For additional information with respect to these risks and
uncertainties, reference should be made to the Corporation's continuous
disclosure materials filed with the Canadian Securities Administrators.
Stratos Global Corporation disclaims any intention or obligation to update or
revise any forward-looking statements or information, whether as a result of
new information, future events, or otherwise.
SOURCE Stratos Global Corporation
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