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ORBCOMM Announces First Quarter 2012 Results

ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company focused on two-way Machine-to-Machine (M2M) communications, today announced financial results for the first quarter ended March 31, 2012.

The following financial highlights are in thousands of dollars, except per share amounts.

         

Three months ended March 31,

2012       2011
Total Revenues $15,879 $7,883
Service Revenues $11,531 $7,397
Product Sales $4,348 $486
Net Income (Loss) attributable to ORBCOMM Inc. $2,409 $(731)
Net Income (Loss) per Common Share $0.05 $(0.02)
EBITDA (1) (3) $3,809 $531
Adjusted EBITDA (2) (3) $4,209 $799
 

(1) EBITDA is defined as earnings attributable to ORBCOMM Inc. before interest income (expense), provision for income taxes and depreciation and amortization. (2) Adjusted EBITDA is defined as EBITDA, adjusted for stock-based compensation expense and noncontrolling interests. (3) A table presenting EBITDA and Adjusted EBITDA, reconciled to GAAP Net Income (Loss), is among other financial tables at the end of this release.

Total Revenues for the quarter ended March 31, 2012, were $15.9 million, an increase of 101% over total revenues of $7.9 million reported in the comparable period of 2011.

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