Orbcomm Increases Revenue in Second Quarter

Aug. 21, 2013
Orbcomm, a global satellite data communications company specializing in two-way machine-to-machine communications, posted total revenues of $18.6 million in the second quarter, compared to $16.3 million for the same period last year. Orbcomm offers telematics systems for original equipment manufacturers, dealers, rental companies and fleet owners.
Orbcomm, a global satellite data communications company specializing in two-way machine-to-machine communications, posted total revenues of $18.6 million in the second quarter, compared to $16.3 million for the same period last year. Orbcomm offers telematics systems for original equipment manufacturers, dealers, rental companies and fleet owners.Service revenues increased from $12.4 million in Q212 to $13.5 million this year, while product sales increased from $3.9 million to $5 million.On June 6, Orbcomm launched its new telematics system, leveraging its acquisition of MobileNet. Its new dual-mode offering combines the company’s global satellite and cellular connectivity with a web-based analytics platform in a single monthly subscription.“We continue to focus on the growth and expansion of the company as a global end-to-end M2M solutions provider in new and existing markets, as evidenced by the recent launch of our new portfolio of state-of-the-art asset tracking and monitoring devices,” said Marc Eisenberg, Orbcomm CEO. “Building upon our current foundation of innovation and M2M specialization, we are committed to delivering the most dynamic combination of network services, hardware and web applications to our customers.”“Second-quarter total revenues of $18.6 million exceeded our previously announced expectations with contributions from organic service revenues and acquisitions,” added chief financial officer Robert Costantini.Orbcomm is based in Rochelle Park, N.J., and has its network control center in Dulles Park, Va.