Inmarsat Holdings Ltd. reported a widening net loss for the third quarter 2005 as revenues remained relatively flat. The company’s total revenue for the just finished third quarter was $120 million, down slightly from $120.5 million reported in the third quarter 2004. Inmarsat’s net loss for the third quarter was $27 million, compared to a net loss of $10.4 million in the same period one year ago.

“Inmarsat met its revenue and cash flow target during the quarter,” Inmarsat Chairman and CEO Andrew Sukawaty said in a statement.

The company reported revenues of $67.1 million from its maritime sector in the just finished third quarter, up from $63.6 million in the third quarter 2004. Revenues from the sector remained flat when compared to the second quarter 2005, as the underlying growth in traffic was offset by the increasing impact of volume discounts on the company’s maritime data business.

Revenues from the land sector dropped from $32.3 million in the third quarter 2004 to $28.9 million in the third quarter 2005. Inmarsat said the land sector revenues continue to face volatility since the primary users are government and military customers and usage is subject to shifts in current events. Inmarsat also acknowledged that land sector revenues continue to be affected by competition from handheld Mobile Satellite Services operators, but said the launch of its Broadband Global Area Network service should help to limit the effects of competition on its land sector revenues.