ORBCOMM (ORBC) Misses Q2 EPS by 1c, Revenues Beat; Offers FY Revenue Outlook

ORBCOMM (NASDAQ: ORBC) reported Q2 EPS of ($0.09), $0.01 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $70.79 million versus the consensus estimate of $70.21 million.

“We are pleased with the strong performance in the second quarter as both Service and Product margins continued to trend higher, leading to improvements in Adjusted EBITDA,” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “We achieved our revenues in the quarter through our growing base business and many new small and mid-size customers, adding over 90,000 net subscribers. We expect to close in on multiple impactful opportunities in the back half of the year as we continue our momentum expanding our customer base and market reach.”

2018 Outlook

For the full year 2018, ORBCOMM continues to expect total revenues to be between $290 million and $310 million depending on the timing of customer wins and subscriber deployments, as well as Adjusted EBITDA of between $55 million and $60 million. ORBCOMM also anticipates adding between 350,000 to 400,000 net subscribers.

GUIDANCE:

ORBCOMM sees FY2018 revenue of $290-310 million.

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

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