Inmarsat… Financially Speaking…

[SatNews] Inmarsat plc (LSE: ISAT.L) has reported preliminary consolidated financial results for the year ended 31 December 2010. Inmarsat plc – Full Year 2010 Highlights

• Total revenue $1,171.6m up 12.9 percent (2009: $1,038.1m)
• Inmarsat Global MSS revenue $727.0m up 6.5 percent (2009: $682.8m)
• EBITDA $696.1m up 17.1 percent (2009: $594.2m)
• Profit before tax $333.5m up 69.4 percent (2009: $196.9m)
• Final dividend of 22.69 cents (US$) up 10 percent
• Global Xpress investment program launched and on track
• LightSquared agreement triggers new revenues

• Inmarsat Group Limited – Q4 2010 Highlights
• Total revenue $292.1m up 8.4 percent (2009: $269.4m)
• EBITDA $171.8m up 18.2 percent (2009: $145.3m)

Andrew Sukawaty, Inmarsat’s Chairman and Chief Executive Officer, said, “We delivered a strong performance in 2010 with total revenues up 12.9 percent driven by growth of 6.5 percent in core MSS revenues and by a second half contribution from our Cooperation Agreement with LightSquared. While a slowdown in growth in the last quarter of 2010 and early 2011 has resulted from lower usage levels for some of our products, continued growth in new terminal activations and positive market reaction to our new services mean that we remain confident in future MSS growth prospects and in our 5-year growth target. In addition, in 2011 we will recognise substantial revenue in connection with our Cooperation Agreement with LightSquared.”