Revenues up 15 percent year-on-year at mobile satellite communications services provider
May 9, 2011
LONDON -- Inmarsat plc (LSE: ISAT.L), the leading provider of global mobile satellite communications services, today provided the following information for the three months ended 31 March 2011.
Inmarsat plc Highlights
Total revenue $323.9m up 15% (2010: $281.5m)
Phase 2 of LightSquared Cooperation Agreement implemented
Acquisition of Ship Equip announced and completed
Inmarsat Group Limited - Q1 HighlightsInmarsat Global revenue $222.8m up 21% (2010: $183.6m)
Total EBITDA $204.1m up 23% (2010: $165.7m)
Profit before tax $124.8m up 51% (2010: $82.6m)
Free Cash Flow $186.6m up 71% (2010: $109.1m)
Andrew Sukawaty, Inmarsat's Chairman and Chief Executive Officer, said, "During the quarter we saw strong overall revenue growth resulting from our Cooperation Agreement with LightSquared including the first revenues from Phase 2 of the agreement. The revenue performance of our core MSS business was in line with management expectations. New product sales continue to be very strong, but some usage trends and other factors continue to constrain our MSS growth. We continue to expect growth in our core MSS revenue for 2011 to be within our 2% to 4% range."
Inmarsat plc (London: ISAT)
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