Orbcomm: 2Q Earnings Snapshot
ROCHELLE PARK, N.J. (AP) _ Orbcomm Inc. (ORBC) on Wednesday reported a loss of $6.4 million in its second quarter.
The Rochelle Park, New Jersey-based company said it had a loss of 8 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for a loss of 8 cents per share.
The satellite communications company posted revenue of $67.1 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $66.9 million.
Orbcomm shares have declined roughly 6% since the beginning of the year. The stock has dropped 18% in the last 12 months.