Finance

Gogo, a global provider of broadband connectivity products and services for aviation, has announced its financial results for the first quarter ended March 31. The results reflect the adoption of the new revenue recognition standard, ASC 606, and the transition of one of its airline partners to the airline-directed model, which resulted in the recognition of $45.4...

Orbital ATK reported strong first quarter financial results with solid double-digit increases in the top and bottom lines in what might be the company’s last earnings release ahead of its acquisition by Northrop Grumman. Sales increased 21 percent to $1.3 billion from $1.1 billion a year ago, with all three of the company’s operating segments...

Aerojet Rocketdyne Holdings has reported results for the first quarter ended March 31. Net income was $14 million, or $0.18 diluted income per share, compared with net income of $5.9 million, or $0.08 diluted income per share in 2017. Effective Jan. 1, the company adopted the new revenue recognition guidance. Consistent with the standard, net assets increased by $37.6 million, and $578 million of net sales were...

Asia Satellite Telecommunications Company (AsiaSat) has announced the promotions of two senior executives to lead the company’s two key technical teams. Fred Ho, director of technical operations, has been promoted to vice president of technical operations. Ho has more than 25 years’ experience in the satellite communications industry. In his new role, Ho will lead...

Orbcomm, a global provider of Industrial Internet of Things (IIOT) solutions, has announced financial results for the first quarter ended March 31. Total revenue of $68 million was up $16.1 million, or 30.9 percent, compared to $51.9 million during the same period of 2017. Service revenue of $38 million was up $8.5 million, or 28.7 percent over the prior year...

Harris Corporation reported fiscal 2018 third-quarter revenue of $1.57 billion, up 5 percent compared with the prior year. Earnings Per Diluted Share (EPS) from continuing operations increased to $1.67, compared with Generally Accepted Accounting Principles (GAAP) $1.31 and non-GAAP $1.38 in the prior year. According to the financial results, Harris achieved revenue and orders growth across...

It has been a big week on the financial results front with a number of the industry’s largest operators reporting on their first quarter. In particular, Intelsat’s results always act as a barometer of how the industry is doing and potentially shaping up. Here we look at what analysts said about the operator’s first quarter...

Telesat Canada has announced its financial results for the three-month period ended March 31 under International Financial Reporting Standards (IFRS). The company reported consolidated revenues of CA$232 million ($251.2 million), compared to CA$235 million ($182.8 million) in the same period in 2017. Operating expenses of CA$38 million ($29.6 million) for the quarter were 31 percent lower...

Intelsat has announced financial results for the three months ended March 31, showing total revenue of $543.8 million and net loss of $66.8 million. In the first quarter of 2018, the company adopted the provisions of the Financial Accounting Standards Board Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606”). As a...

Inmarsat’s first quarter results issued today were very much a mixed bag with encouraging performances in mobility areas, such as maritime and aviation, but perhaps less so in government. For example, maritime revenues in the first quarter of this year reached $142 million, a slight increase compared to the same stage last year. Aviation revenues...