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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Offshore Casualty: Harkand Group Collapses

As the prolonged slump in energy prices continues to drag on a number of oil and gas and maritime players, word has it that Harkand Group has succumbed, according to staff reports and a report on www.

Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake

Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui,

Shell Presents Crewmember Safety Awards

Shell Shipping and Maritime, Americas recently held its third annual Goal Zero Hero Awards dinner in Houston, recognizing the crewmembers of 21 contracted/chartered vessels,

Ship Repair & Conversion

Great Lakes Shipyard Performs USCG Drydocking

On April 25, Great Lakes Shipyard hauled out the U.S. Coast Guard’s 125’ x 52’ Aids to Navigation Barge (12001). Using the Shipyard’s 770-ton Marine Travelift,

Sipu Muin Modernization Work to Begin in May

Canadian Coast Guard plans upgrades for Air Cushion Vehicle   A scheduled modernization of the Canadian Coast Guard CCGS Sipu Muin will see the Air Cushion Vehicle

Raytheon Anschütz Steering Gear Control for Luxury Cruise Ships

The German navigation system manufacturer Raytheon Anschütz was awarded a retrofit contract of steering gear control systems for two luxury cruise ships chartered by Noble Caledonia Ltd.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0834 sec (12 req/sec)