Orbcomm Profit Falls Amid Revenue Growth

(RTTNews) - Orbcomm Inc (ORBC), a provider of machine-to-machine solutions, Thursday reported fourth-quarter net income to stockholders of $0.8 million or $0.02 per share compared with $2 million or $0.05 per share last year.

On average, four analysts polled by Thomson Reuters estimated earnings of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.

Results for the prior-year quarter included $10 million gain from insurance recovery-satellite network.

Revenue for the quarter climbed 18.7 percent to $19.2 million from $16.2 million last year, while analysts estimated $19.4 million.

On March 12, Orbcomm closed the acquisition of Euroscan Holdings B.V., a supplier of refrigerated transportation temperature compliance recording systems.