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Orbcomm reports 3Q loss

ROCHELLE PARK, N.J. (AP) _ Orbcomm Inc. (ORBC) on Thursday reported a loss of $39.7 million in its third quarter.

The Rochelle Park, New Jersey-based company said it had a loss of 54 cents per share. Losses, adjusted for asset impairment costs and costs related to mergers and acquisitions, were 10 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The satellite communications company posted revenue of $69.4 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $65.2 million.

Orbcomm shares have risen 37 percent since the beginning of the year. The stock has increased 33 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORBC at https://www.zacks.com/ap/ORBC