MSV Posts Revenue Gain, Increased Losses For First Quarter 2008
[Satellite Today – 5-6-08] Mobile Satellite Ventures posted a 6 percent increase in revenues for the first quarter of 2008, the company announced May 6.
MSV is owned primarily by and is the sole operating asset of SkyTerra Communications Inc., and the two company’s financial results are no longer published separately. SkyTerra posted $8.6 million in revenue for the quarter ending March 31, a 6 percent increase over $8.1 million reported in 2007.
The company reported an operating loss of $21.5 million, a 40 percent increase over 2007’s $15.5 million. The increase was due to increased staffing levels and development costs related to MSV’s next-generation network, Scott Macleod, executive vice president and CFO of SkyTerra and MSV, said.