Orbcomm reported total revenues of about $15.9 million for the...
Orbcomm reported total revenues of about $15.9 million for the first quarter, an increase of 101 percent from Q1 2011. Service revenues were $11.5 million compared to $7.4 million last year, the global satellite data communications company said. This 56…
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percent increase was due to “an increase in the number of billable units and higher usage in core service,” including revenues from automatic identification system satellite launches and the acquisitions of StarTrak Systems and PAR Logistics Management Systems. The company added 42,000 net new subscribers, including 19,000 subscribers acquired with the land mobile satellite transaction that closed in January, Orbcomm said. As of March 31, there were about 689,000 billable subscriber communicators, compared to 589,000 last year the same time, which is an annual increase of 17 percent, the company said.