Inmarsat Group Ltd. earned $6.3 million in the 2005 first quarter, rebounding from a loss of $10 million in the same period one year ago, Inmarsat reported May 9.
Revenue improved 8 percent from $118.3 million in the 2004 first quarter to $127.4 million in the 2005 first quarter, which ended March 31. The maritime sector contributed $66.2 million in revenue in the most recent quarter, with land sector services adding $35 million.
Operating costs dipped slightly from $46.8 million in the 2004 first quarter to $43.5 million in 2005. Inmarsat credited the improvements to cost reductions implemented in early 2004, which offset cost increases in a capacity lease with Thuraya to support Inmarsat’s regional Broadband Global Area Network services and rental payments for the company’s London headquarters.
