Furled by its Mobile Satellite Service (MSS) business, Stratos Global Corp. posted revenues of $144.6 million in the 2007 first quarter, up 21 percent from the same period a year ago, the company announced May 3.

Stratos cuts its net loss from $24.9 million in the 2006 first quarter to $4.2 million in the most recent quarter. The MSS business accounted for $113.2 million in revenue in the first quarter of 2007, which closed March 31. 

That represented a 30 percent increase compared with the same quarter in 2006; the growth in MSS revenue compared with the first quarter of 2006 was driven by incremental revenue from the acquisition of Xantic in February 2006, and increased demand for newer generation products and value-added services. MSS segment earnings were $16.3 million in the first quarter of 2007, up 44 percent compared with the same quarter a year ago.

On March 19, Stratos announced an agreement to be acquired by CIP Canada Investment Inc.