Orbcomm: 3Q Earnings Snapshot
ROCHELLE PARK, N.J. (AP) _ Orbcomm Inc. (ORBC) on Wednesday reported a loss of $4 million in its third quarter.
The Rochelle Park, New Jersey-based company said it had a loss of 5 cents per share.
The results matched Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for a loss of 5 cents per share.
The satellite communications company posted revenue of $69.2 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $70.4 million.
For the current quarter ending in December, Orbcomm said it expects revenue in the range of $68 million to $72 million.
The company’s shares closed at $4.70. A year ago, they were trading at $8.53.