ORBCOMM Announces Third Quarter 2016 Results

ORBCOMM Inc. (NASDAQ:ORBC), a global provider of Machine-to-Machine (M2M) and Internet of Things (IoT) solutions, today announced financial results for the third quarter ended September 30, 2016.

The following financial highlights are in thousands of dollars.
                     

Quarter EndedSeptember 30,

 

Nine Months EndedSeptember 30,
 
2016 2015 2016 2015
Service Revenues $ 28,846 $ 25,048 $ 83,454 $ 72,833
Product Sales $ 17,442 $ 21,036 $ 56,458 $ 60,464
Total Revenues $ 46,288 $ 46,084 $ 139,912 $ 133,297
Net Income (Loss) attributable to ORBCOMM Inc. Common Stockholders ($14,048 ) $ 1,582 ($20,313 ) ($13,517 )
Net Income (Loss) - Ex-Items, attributable to ORBCOMM Inc. Common Stockholders (1,5) ($3,122 ) $ 2,082 ($8,454 ) $ 3,292
Basic EPS

($0.20

)

$

0.02

($0.29

)

($0.19

)
Basic EPS - Ex-Items (2,5)

($0.04

)

$

0.03

($0.12

)

$

0.05
EBITDA (3,5)

($521

)

$

9,385

$

18,063

$

9,908
Adjusted EBITDA (4,5)

$

11,961

$

11,029

$

34,776

$

30,411
 

(1) Net Income (Loss) - Ex-Items, attributable to ORBCOMM Inc. Common Stockholders is defined as Net Income (Loss) attributable to ORBCOMM Inc. Common Stockholders, excluding Impairment Loss-satellite network, and Acquisition-related and integration costs.

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