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Mon, Sep. 19, 7:40 PM
- Orbcomm (NASDAQ:ORBC) has been chosen as a data provider for Global Fishing Watch, an organization fighting illegal, unreported and unregulated fishing.
- The company will offer Automatic Identification System data from commercial fishing vessels to the group, a collaboration between Oceana, Google and SkyTruth.
- More than 20M AIS data points daily show the movement of large commercial fishing vessels; Global Fishing Watch can track time-stamped data points and determine fishing activity vs. non-fishing, and help fisheries identify unauthorized activity.
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Thu, May 5, 1:24 PM
- Orbcomm (NASDAQ:ORBC) has tumbled 7.4% after revenues missed in Q1 earnings, making up some ground after declining as much as 14.2% today.
- EBITDA grew 18% to $10.7M, in line. Product sales "would have been higher had two large hardware deployments shipped in Q1 as anticipated, that are now expected to ship in Q2," says CEO Marc Eisenberg. He expects a record Q2.
- Revenue breakout: Service revenues, $26.9M (up 13.2%); Product Sales, $16.65M (down 10.3%).
- Net subscriber adds were 39,000, bringing billable subscriber communicators to 1.61M, up 27% Y/Y.
- Guidance is in-line, with forecasts for Q2 revenues of $47M-$50M, and full-year revenue of about $200M and EBITDA of 25% margins to total revenue.
Thu, May 5, 8:33 AM
- ORBCOMM (NASDAQ:ORBC): Q1 EPS of -$0.03 in-line.
- Revenue of $43.56M (+2.9% Y/Y) misses by $1.48M.
Tue, Apr. 12, 1:53 PM
- Orbcomm (ORBC -3.7%) has deal to acquire South Africa-based Skygistics, a firm offering remote and mobile asset management.
- Terms were undisclosed. The agreement includes Skygistics' subsidiaries in South Africa and Australia.
- Skygistics is a distributor of satellite connectivity products made by Orbcomm subsidiary SkyWave. The deal "supports Orbcomm’s long-term strategy of becoming a leading global, full-service provider in the Internet of Things,” says Orbcomm chief Marc Eisenberg.
- The acquisition is expected to close in May.
- Earlier today, Orbcomm announced a new heavy equipment telematics solution combining its ruggedized PT 7000 device with the FleetEdge Web application for fleet management in the construction, mining, rail and utility industries.
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Wed, Mar. 9, 9:58 AM
- Orbcomm (NASDAQ:ORBC) is up 3.4% after some largely in-line Q4 results where it doubled EBITDA and nearly doubled revenues.
- It swung to a GAAP break-even result from a year-ago loss, and earned $0.01/share excluding items. Adjusted EBITDA of $11.9M was up sharply from a year-ago $5.15M, and beat an expected $11.2M.
- Revenue breakout: Service revenues, $27.1M (up 78.8%); Product sales, $17.9M (up 25%).
- Net subscriber communicator additions were 239,000 for Q4 (including 200,000 adds from acquiring WAM Technologies), bringing total billable subscriber communicators to 1.569M (up 61% Y/Y).
- Conference call to come at 10 a.m. ET.
Wed, Mar. 9, 8:34 AM
- ORBCOMM (NASDAQ:ORBC): Q4 EPS of $0.01 in-line.
- Revenue of $45M (+52.7% Y/Y) in-line.
Tue, Mar. 1, 2:08 PM
- Orbcomm (NASDAQ:ORBC) today announced commercial service launches for its final 11 OG2 satellites.
- The next-gen satellites are offering machine-to-machine messaging as well as Automatic Identification Service.
- The OG2 satellites are now processing over 60% of the network's M2M traffic, Orbcomm says, and it's now collecting over 18M AIS messages from about 150,000 unique vessels per day.
- The satellites are withing three separate drift orbit planes after their December launch. The satellites will keep drifting until they're in their intended phase.
- The company was able to launch service sooner than expected after required testing was successfully completed ahead of schedule.
Tue, Feb. 23, 7:09 PM
- Machine-to-machine communications specialist Orbcomm (NASDAQ:ORBC) took advantage of Mobile World Congress to announce it added new solutions to its portfolio for fleet management.
- The cellular-only SkyWave IDP-782 device, for vehicle tracking and driver monitoring, is a less expensive version of its similar dual-mode device that can be used in areas where cellular coverage is widely available.
- Meanwhile, its viaFleet Web application has a graphical interface to allow for real-time tracking of mobile assets and driver communication, among other functions.
- Other new offerings include a new OGi modem, an IDP modem with a footprint smaller than a credit card; its ORBCOMMconnect subscriber portal; ORBCOMM Enterprise Connect for distributed enterprise, financial, hospitality and retail locations; and ORBCOMMmobile, an app for iOS/Android devices.
Thu, Jan. 28, 12:02 PM
- Orbcomm (NASDAQ:ORBC) is up 1.5% after Terex chose the firm to deliver a heavy equipment telematics solution for Terex Materials Processing.
- Orbcomm's solution will track and monitor Powerscreen and Terex Finlay machines, providing data including location, engine hours, utilization, fuel levels and urea levels as well as alerts and fault codes.
- Terex has begun offering factory installation of Orbcomm's system and expects to standardize it on several models shipping from its Ireland factory.
Dec. 22, 2015, 3:53 PM
- Orbcomm (NASDAQ:ORBC) is up 10.4% and stopping just short of a new 52-week high after Canaccord Genuity reiterated its Buy rating on the stock.
- Canaccord has an $11 price target; shares are trading at $7.42, implying just shy of 50% upside.
- The company launched its 11 next-generation OG2 satellites last evening to cross a key milestone. The new satellites promise more capacity, enabling faster message delivery along with larger message sizes and better coverage at the higher latitudes.
- Canaccord's Michael Walkley thinks a completed OG2 network should drive higher network services revenues for years, with a "long-term runway" for new and expanded deals.
- The launch should ramp up AIS sales and drive strong incremental EBITDA growth, he says. New opportunities should come from a partnership with China International Marine Company, with the chance to provide OEM solutions directly into newly made dry shipping containers.
Nov. 5, 2015, 8:40 AM
- ORBCOMM (NASDAQ:ORBC): Q3 EPS of $0.03 beats by $0.02.
- Revenue of $46.08M (+99.2% Y/Y) misses by $0.22M.
Oct. 27, 2015, 3:39 PM
- Orbcomm (ORBC -2.2%) has a deal with Morsviazsputnik -- Russia's licensed operator of Inmarsat (OTCPK:IMASY) -- to provide IsatData Pro (IDP) service in Russian territory.
- SkyWave's IDP uses Inmarsat's L-band satellites to offer low-latency machine-to-machine service. The pact gives Orbcomm entry into Russia to support its global heavy equipment OEM customers.
- The IDP service will offer the ability to deliver up to 37 times more data than other satellite-based M2M offerings and supports a wide range of services, including heavy-equipment telematics and fleet management and vessel tracking features.
- The two companies can market and distribute the IDP service in Russia immediately.