Fort Lee-Based Orbcomm Loses $1m in Quarter ; Expenses Offset Revenue Increase

Summary

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Orbcomm Inc., the Fort Lee-based satellite communications company, said third-quarter losses widened to $1 million, or 2 cents a share, from $422,000, or 1 cent, in the same period last year.

The company saw higher revenue -- more than $1 million in increased revenue to $8 million in the third quarter -- but unchanged expenses of about $8.9 million. It also attributed losses to lower quarterly income from its investments and a Japanese subsidiary, according to a quarterly earnings report filed Monday with the Securities and Exchange Commission.

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Fort Lee-Based Orbcomm Loses $1m in Quarter ; Expenses Offset Revenue Increase

In the first nine months of the year, Orbcomm's losses narrowed to $2.2 million from $4.7 million i...

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