Orbcomm up 3.4% after sharp Q4 revenue growth

|By:, SA News Editor

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.

Press Release

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