Inmarsat posted a 2006 profit of $127.7 million, up 98 percent over 2005, the company announced Feb. 27.

Revenues were $500.1 million in 2006, compared to revenues of $491.1 million in 2005. Revenues from mobile satellite communication services were $491.8 million in 2006, up 4 percent from 2005. The gains were due to continued success in services such as Fleet and Swift 64, the launch of the Broadband Global Area Network (BGAN) service and a contribution from handheld services. The gains were offset by lower demand from the Middle East and competition from other technologies, Inmarsat said.

“We have delivered on our target of accelerated revenue growth while maintaining strong growth in operating cash flows,” Andrew Sukawaty, Inmarsat’s chairman and CEO, said in a statement. “We are pleased that our revenue growth continues to be driven by strong performances across our business sectors and by the fast growing contribution from BGAN services.”

Revenues from the maritime sector were $284.7 million in 2006, an improvement of nearly 7 percent compared to 2005. Land sector revenues were $11.1 million, a drop of nearly 5 percent from a year ago, due to a reduction in traffic in the Middle East and competition from VSAT. The aeronautical sector contributed $30.7 million in revenues, up 35 percent from 2005.

BGAN, which was launched in December 2005, contributed $9.5 million in revenues in 2006, though $7.4 million was recorded in the second half of the year. Inmarsat closed the year with more than 7,000 BGAN subscribers.