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,|
|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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