- Orbimage Inc. [ORBM] reported increased revenues and a widening loss for the third quarter of 2004. The company reported revenues of $8.9 million, up from $1.1 million during the third quarter of 2003. Net loss for the just-completed quarter was $6.1 million, compared with a net loss of $4.6 million during the same period one year ago.
The company attributed the increase in revenues to the commencement of OrbView-3 operations. Losses were attributed to expenses resulting from OrbView-3 operations and from interest expenses related to the company’s senior notes and senior subordinated notes issued Dec. 31, 2003.