Stratos Announces 4Q Results

Friday, February 17, 2006
Stratos Global Corp. announced financial results for the fourth quarter and year ended December 31, 2005. The Corporation reported net earnings in 2005 of $5.4 million, or $0.13 basic earnings per share, compared with $25.1 million, or $0.51 basic earnings per share, reported in 2004. Revenue for 2005 was $381.0 million, a 4 percent improvement compared with the $367.8 million achieved in 2004. Segment earnings for 2005 were $58.2 million, compared with $78.1 million reported for the prior year. In the Mobile Satellite Services (MSS) business, both revenue and segment earnings for the full year were adversely impacted by intensified price competition, resulting in lower volumes, prices and reduced margins, as well as a shift toward lower-margin products and services. MSS revenue for 2005 declined by two percent to $259.9 million, and segment earnings declined by 20 percent to $44.7 million, as compared to 2004. Revenue and segment earnings for 2004 were $265.8 million and $56.1 million, respectively. Revenue in the corporation's Broadband division was $121.1 million in 2005, a 19 percent increase over the prior year results, primarily reflecting the acquisition of Plenexis Holding GmbH, which was completed on January 31, 2005. Segment earnings declined to $13.4 million for 2005, as compared with $22.0 million achieved in 2004. Broadband results were impacted by a continued gradual decline in the core Gulf of Mexico market, hurricanes Katrina and Rita which disrupted offshore microwave services in the second half of 2005 and the expiration of certain legacy contracts in the North Sea VSAT business.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

Foster Wheeler & MDM Engineering Merged

Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”)

Ship Repair & Conversion

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Mitsubishi Super Skiving System

Mitsubishi Heavy Industries, Ltd. (MHI) has completed development of the "Mitsubishi Super Skiving System" for machining internal gears with high speed and outstanding precision.

Messer to Debut MetalMaster Xcel

Messer Cutting Systems said it has answered the call from manufacturers that have been demanding a faster, more accurate way of producing cut parts. Messer’s

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Port Authority Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1253 sec (8 req/sec)