Despite a decrease in voice service revenue in Inmarsat Global’s...
Despite a decrease in voice service revenue in Inmarsat Global’s maritime and land mobile business, parent Inmarsat reported total revenue of $281.5 million in Q1 2010, up 11.8 percent from a year earlier. Inmarsat Global’s revenue grew 22.8 percent to…
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$200.7 million. The growth resulted partly from stronger sales of data services, the company said. It reported revenue increases of 3.5 percent to $62 million for maritime data and 34 percent to $43 million for land data. The company expects the trend to continue, saying “although we see continued weakness in our maritime voice revenue, we believe demand for data services remains solid and can deliver further growth during the rest of the year.” The company’s land mobile business was helped by demand for Inmarsat’s Broadband Global Area Network after the earthquakes in Haiti and Chile. Revenue from the network increased 62 percent. Another Inmarsat subsidiary, Stratos, reported 2.1 percent revenue growth to $159.9 in the quarter despite a 21.9 percent decrease in mobile satellite broadband service revenue that Inmarsat blamed on “current economic conditions.”