Orbcomm reported third quarter 2013 revenue of $19.7...
Orbcomm reported third quarter 2013 revenue of $19.7 million, a 22.4 percent increase year-over-year. Service revenue was $13.8 million, an 8.3 percent increase from the same period last year, Orbcomm said in a press release (http://bit.ly/1aaIcqB). Product sales jumped 75…
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percent to $5.9 million, due to an increase in organic sales at its Japanese subsidiary and StarTrak, and the acquisitions of GlobalTrak and MobileNet, it said. Its acquisition of Comtech’s Sensor Enabled Notification System operation this month “is expected to add over 20,000 subscriber communicators in the fourth quarter of 2013,” it said. For Q3, net subscriber communicator additions were 827,000, compared to 744,000 in Q3 2012, Orbcomm said.