ORBCOMM adds more than 40,000 subscribers, shares rise 13%
ORBCOMM Inc. (Nasdaq:ORBC) said Wednesday it gained more than 40,000 net billable subscribers in the quarter ended in June. The satellite data communications company said its total additions included about 32,400 satellite and 8,100 terrestrial subscriber communicators. The Fort Lee, N.J.-based ORBCOMM’s total subscriber base is more than 420,000, the company said. ORBCOMM shares gained 13% to $6.74, about $0.74 above Tuesday’s closing price.
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