(Source: Canada Newswire)
BETHESDA, MD, Nov. 8 /CNW/ - Stratos Global Corporation, the
world's trusted leader in delivering vital voice, data and IP
communication services today announced financial results for the
third quarter ended September 30, 2009.
Financial Highlights
(in millions of U.S. dollars)
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Third quarter ended Nine months ended
September 30 September 30
2009 2008 2009 2008
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Revenue $ 160.1 $ 168.2 $ 477.5
$ 478.4
EBITDA(x) $ 27.0 $ 28.9 $ 76.2
$ 75.9
Net earnings $ 8.0 $ 8.4 $ 18.3
$ 14.6
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(x) EBITDA (a non-GAAP measure) is defined by the Corporation as
earnings
before interest expense, income tax expense, other (income)
costs,
depreciation and amortization, non-controlling interest and
equity in
earnings of investees.
The unaudited interim consolidated financial statements and
management's discussion and analysis of financial condition and
results of operations are available on SEDAR, www.sedar.com and the
Corporation's website, www.stratosglobal.com
For the third quarter and nine months ended September 30, 2009,
the Corporation achieved revenue of US$160.1 million and US$477.5
million, respectively, a 4.8 percent and a 0.2 percent decrease,
respectively, compared with US$168.2 million and US$478.4 million in
the same periods in 2008. EBITDA for the third quarter and nine
months ended September 30, 2009 decreased by 6.6 percent and
increased by 0.4 percent, respectively, to US$27.0 million and
US$76.2 million compared with US$28.9 million and US$75.9 million
for the same periods in 2008. The decrease in revenue for the three
months ended September 30, 2009 when compared to the three months
ended September 30, 2008 was due to decreases in revenue in both the
Mobile Satellite Services and Broadband segments. The decrease in
EBITDA for the three months ended September 30, 2009 was driven
primarily by the decrease in revenue, partially offset by a decrease
in operating expenses.
Net earnings for the third quarter and nine months ended
September 30, 2009 were US$8.0 million and US$18.3 million,
respectively, compared with net earnings of US$8.4 million and
US$14.6 million, respectively, during the same periods in 2008.
