This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Inmarsat Plc Interim Management Statement

Inmarsat plc

                                                Three months ended     
                                                   30 September      Increase/
    (US$ in millions)                             2012      2011    (decrease)

    Inmarsat Global - MSS revenue                186.7     180.7         3.3%
    Inmarsat Global - Other Income
    (including LightSquared)                      11.7      64.5      (81.9%)
    Inmarsat Solutions                           205.9     197.4         4.3%
                                                 404.3     442.6       (8.7%)
    Intercompany eliminations and
    adjustments                                  (78.4)    (78.5)
    Total revenue                                325.9     364.1      (10.5%)

Inmarsat Global

                                          
                                            Three months ended             
                                                30 September        Increase/
    (US$ in millions)                          2012      2011      (decrease)

    Maritime voice services                    19.6      21.6        (9.3%)
    Maritime data services                     85.4      68.0        25.6%
    Total maritime sector                     105.0      89.6        17.2%
    Land mobile voice services                  3.7       2.2        68.2%
    Land mobile data services                  30.6      34.8       (12.1%)
    Total land mobile sector                   34.3      37.0        (7.3%)
    Aviation sector                            24.3      26.6        (8.6%)
    Leasing                                    23.1      27.5       (16.0%)
    Total MSS revenue                         186.7     180.7         3.3%
    Other income (including LightSquared)      11.7      64.5       (81.9%)
    Total revenue                             198.4     245.2       (19.1%)

Growth in maritime data revenue resulted primarily from the impact of pricing initiatives implemented in the first half of 2012.  During the third quarter we added 2,128 FleetBroadband terminals and ended the quarter with an installed base of over 32,000 active FleetBroadband terminals.  On-going decline in maritime voice revenue is due to a structural shift to data services through increasing email substitution and take up of VOIP applications, offset to a limited extent by organic voice growth opportunities from crew services and smaller vessels.  

On-going customer migration to FleetBroadband from our older maritime services will have a continuing negative impact on our rate of revenue growth in the maritime sector because the cost of service is typically lower than for the services being replaced.  Generally, we expect this impact to be offset by on-going usage increases and net new subscriber growth.  

During the quarter, take up of XpressLink, our hybrid L and Ku-band maritime service, was also encouraging and a number of new contracts were signed and will begin installation over the coming months.  At the end of the quarter we had an installed base of 1,150 ships using our VSAT service, including more than 250 ships using XpressLink.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs