Inmarsat Reports Increase In Profit, Revenues For First Quarter
[Satellite Today – 5-8-08] Inmarsat Holdings Ltd. reported a 5 percent increase in revenue and a 9 percent increase in profit after tax for the first quarter of 2008, the company announced May 8.
Inmarsat posted revenue of $147.9 million for the quarter ending March 31, compared to $140.8 million in 2007. Profit after tax was up to $28.9 million, compared to $26.6 million last year. The company also added more than 2,500 subscribers to its Broadband Global Area Network (BGAN) service, bringing total subscribers to 18,509.
“We have made a solid start to the year and the growth trends in our core markets were sustained throughout the quarter,” Andrew Sukawaty, Inmarsat’s chairman and CEO, said in a statement. “With our operating costs under firm control we are well on track to meet our revenue and cash flow growth objectives for the year. Although we do not yet have a new date for the launch of our third Inmarsat-4 satellite, we remain confident that a prolonged delay is unlikely.”
Inmarsat-4 is scheduled to be launched aboard a Russian Proton rocket under a contract with International Launch Services. The mission, scheduled for late April, was placed on hold following a failure of a March Proton mission carrying the AMC-14 satellite.