EMS CEO: Satellite Communications ‘Exceptional’ In Third Quarter
[Satellite Today 10-31-08] EMS Technologies Inc. reported strong third quarter financial results and credited the growth to “exceptional performance in satellite communication for both the Inmarsat and Iridium markets.”
“In a challenging global economic climate, EMS overall revenues grew 20 percent compared with the third quarter of last year,” EMS CEO Paul Domorski, said in a statement.
Third quarter revenues from satellite communications grew about 30 percent for EMS, which reported third-quarter revenues at $87.8 million and net earnings of $6.1 million, both figures up from the same period in 2007, the company announced Oct. 31.
“Quarterly revenues from our LXE mobile logistics products and services business were the highest since 2006, and restructuring efforts that were begun in the second quarter of this year contributed to higher profitability in the third quarter,” said Domorski. “We maintained a healthy backlog in defense and space systems, and we began work for the first customer for our new line of in-flight connectivity antenna offerings.”