[Satellite Today 03-17-09] Orbcomm reported a 34.4 percent increase in 2008 service revenues to $23.8 million, the company announced March 16.
    The company also reported a 39.8 percent ($4.2 million) drop in product sales from 2007, though total revenues for 2008 were $30.1 million, an increase of 6.9 percent from 2007.
At the end of the year, Orbcomm said it had more than 460,000 billable subscriber communicators, a 31 percent increase over the end 2007. More than 60 percent of those net additions were attributable to installations by original equipment manufacturers.
    “Despite significant slowdowns at some of our transportation related [value-added resellers], the growth rate of our subscriber net additions slowed only slightly, due primarily to the strength in our [original equipment manufacturer] factory install business,” Orbcomm CEO Marc Eisenbern said in a statement.