ORBCOMM swings to Q4 profit
ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company, swung to a profit in the fourth quarter of 2007 due to a sharp jump in service revenues. The Fort Lee, N.J.-based firm reported before the start of trading that its net income for the three months ended Dec. 31, 2007, was $0.03 per share, compared with a net loss of $0.09 per share a year earlier.
At 11:22 a.m. ET, the stock was up $0.75, or 16%, to $5.57. For detailed price information and recent news stories about ORBCOMM Inc., click ORBC.
