ORBCOMM (ORBC) Misses Q1 EPS by 1c

ORBCOMM (NASDAQ: ORBC) reported Q1 EPS of ($0.05), $0.01 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $51.92 million versus the consensus estimate of $48.6 million.

“Our strong sales pipeline resulted in a fast start to 2017, with a record first quarter despite typically being the softest quarter of the year,” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “Leveraging our continued technology innovation with new products and increased leadership in our markets, 2017 is shaping up to be a defining year for ORBCOMM.”

“Total Revenues for the first quarter reached a record $51.9 million, with a strong backlog entering the second quarter,” said Robert Costantini, ORBCOMM’s Chief Financial Officer. “We generated $12.4 million of Adjusted EBITDA for the quarter, primarily driven by expanding high incremental margin Service Revenues.”

For earnings history and earnings-related data on ORBCOMM (ORBC) click here.

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