Inmarsat Posts Strong Results; Signs Launch Deal
Inmarsat reported a leap in profits during the first half of 2007, the company announced Aug. 7.
Amid earnings results for the first six months of 2007, revenues cleared $284.2 million, or an increase of nearly 16 percent compared to the same period last year. The operator said that profits before tax for the six months were $77.9 million, up more than 60 percent compared to the same quarter in 2006.
Inmarsat saw strong growth in the maritime sector, driven by its new Fleet product range of services. Second quarter revenue from the maritime sector increased 11 percent year-on-year. Inmarsat said revenue in the land sector for the second quarter was up 13 percent year-on-year, while land data saw year-on-year revenue growth of 20 percent. Inmarsat attributed the windfall as driven by demand for BGAN services.
In another development, International Launch Services (ILS) and Inmarsat have inked a contract for launch of the Inmarsat 4-F3 satellite on a Proton Breeze M vehicle in early 2008, ILS announced.
The satellite, third in the constellation, will enable Inmarsat
to offer global coverage with its BGAN mobile broadband service, along with existing services. Launch is planned for March or April 2008 aboard a Proton Breeze M from the Baikonur Cosmodrome in Kazakhstan. Financial terms were not disclosed.