Orbcomm Cuts Second Quarter Loss
[Satellite News 08-11-08] Orbcomm reported a net loss of $1 million in the second quarter of 2008, an improvement of 25 percent over a net loss of $1.3 million in the second quarter of 2007.
Total revenues were $7.7 million, an increase of 17 percent from the second quarter of 2007. Service revenues increased 37 percent to $5.8 million due primarily to an increase in the billable subscriber communicator base and incremental service revenue margins earned by Orbcomm Japan of $300,000.
Product sales slipped $400,000, or 18 percent, from the second quarter of 2007 due to a decline in purchases by a large value-added reseller, offset partially by product sales made by Orbcomm Japan, Orbcomm said.