Inmarsat Posts Gains In Revenues, Profits Before Tax
[Satellite Today – 3-6-08] Inmarsat‘s profits before tax for the full year 2007 increased nearly 40 percent over 2006 as revenues improved 15 percent, the company announced March 6.
Inmarsat’s total revenues for 2007 were $576.5 million, up from $500.1 million in 2006. Profit before tax was $124.8 million in 2007, compared to $89.8 million in 2006.
The maritime sector contributed revenues of $310.3 million in 2007, up 9 percent from 2006 due to increased demand for data connectivity. Revenues in the land mobile sector were $125.8 million in 2007, an 8 percent gain over 2006 due to growth in the Broadband Global Area Network business, which offset a decline in voice services revenue. Aeronautical sectors revenues were $4.3 million, up from $30.7 million in 2006 due to high levels of activity for the Swift 64 service for government aircraft and business jets.
“2007 was a very good year for Inmarsat,” Andy Sukawaty, Inmarsat’s CEO, said in a statement. “Our operating performance in terms of both revenue growth and cash flow generation was strong and exceeded our growth targets. Importantly, we also completed the key new product launches that further cement our market leadership. We now offer our customers mobile broadband connectivity on sea, land and in the air.”