Galvan rated ISAT a buy at 695p on 11/2/2011 when Harbinger Capital Partners sold its remaining 14% stake in Inmarsat.

Well it's almost halved, so we know their Sell was quite wise, given they'd probably doubled their money.

..Inmarsat reaches for the skies as blue-chips rocket higher


Satellite communications group Inmarsat (EUREX: ISAF.EX - news) was heading skywards today as the market welcomed news of a revival in the company’s core maritime business.

A 13pc increase in revenue from maritime during the first-half helped the FTSE 250 company put on 52.7 or 10.9pc to 537p, taking the shares far above this year’s low of 390.8p, which it touched in May.

Inmarsat, which also provides communications for humanitarian and military operations, ended the day as the biggest riser on the mid-cap index.

While the group’s second-quarter figures exceeded City estimates, Inmarsat had less success with its land-based services. Falling troop numbers in Afghanistan meant less demand for the company’s satellite communications, something which “remains a material headwind to our overall rate of growth in 2012” Inmarsat cautioned.

Nevertheless, chief executive Rupert Pearce was confident the company would meet expectations for the year. “We’ve surprised the market with the resilience of our business, I don’t think they expected us to show robust growth in the way we have,” said Mr Pearce, who took on the top job in January.

Inmarsat plc Reports Interim Results 2012




http://www.moneyam.com/action/news/showArticle?id=4421179Inmarsat plc - Highlights



· Total revenue $684m (2011: $683m)

· Inmarsat Global MSS revenue $367m up 1.4% (2011: 362m)

· EBITDA $381m (2011: $427m)

· EBITDA excluding LightSquared $332m (2011: $336m)

· Profit before tax $223m (2011: $255m)

· Interim dividend of 16.94 cents (US$), up 10%

· Strong growth in Maritime revenue, up 13%

· Over 30,000 FleetBroadband terminals installed

· Over 65,000 active IsatPhone Pro terminals



Inmarsat Group Limited - Second Quarter Highlights



· Total revenue $329m (2011: $359m)

· Inmarsat Global MSS revenue $189m up 4.2% (2011: $181m)

· Inmarsat Solutions revenue $205m (2011: $189m)

· Total EBITDA $176m (2011: $223m)

· MSS active terminals up 13%

Ex-div 3rd Oct '12 (16.94¢ = approx 11p)

watching this closely, mam says div 15.8p harry, is yours more accurate?

Hmmm.., not sure. The divi figure of 16.94¢ is correct, but I thought that the divi was paid in US$, but as the stock is issued in €'s, it may be that the ¢ are actually in that currency. My conversion was US$ / £.

Pulled this off inmarsats site.

Interim dividend

Announcement date: 03 Aug 2012
Ex-dividend date: 03 Oct 2012
Record date: 05 Oct 2012
Payment date: 25 Oct 2012
Amount: 16.94 cents (US$) per share
Exchange rate: tbc

Thanks dc. In that case my conversion rate is pretty much spot on. MAM's conversion rate is very optimistic, imo.

:-))

I bet you needed a calculator. lol

I think MAM need one!

Thanks dc and harry.

"HSBC downgrades Inmarsat from overweight to neutral, target price raised from 640p to 650p."

Didn't go for any divs tomorrow as I thought all the spreads to wide to get out without a long wait.,.

Healthy bounce post divi and am now back into small profit (with divi). Target 630p and then will consider my options, hopefully!

8th October, 2012 - LONDON: Inmarsat (LSE: ISAT), the leading provider of global mobile satellite communications services, today announced it has signed a master distribution agreement (MDA) with Honeywell for GX Aviation services.

Under the terms of the agreement, Honeywell will partner with Inmarsat to bring the benefits of GX to the business aviation market.

The Inmarsat Global Xpress satellite system is scheduled for global commercial service launch in late 2014, with service introduction for business aviation customers available in Q1 2015. The Ka-band satellite network will offer unprecedented data rates of up to 50mbps to the cabin and global coverage, all backed by Inmarsat's quality standards of reliability and performance.

The signing of this agreement with Honeywell represents a strong endorsement of Inmarsat's GX service innovation for the business aviation sector, and is underscored by Honeywell's commitment to purchase GX capacity for 5 years and reserve capacity up to 2021.

London - 8th October 2012 - Inmarsat and Cisco have announced the creation of a unique long-term alliance that will enable Inmarsat to deliver advanced services, from applications to business collaboration and video to multimedia content over Inmarsat's new high-throughput satellite broadband network, Global Xpress (GX).

Cisco will provide Inmarsat with a state-of-the-art satellite applications service delivery platform and a high performance access network for Inmarsat's Global Xpress programme, the first global Ka-band (the satellite transmission frequency) network with mobile connectivity. Cisco will also develop a router for satellite network end-users that will utilise not only the Inmarsat GX capabilities but also the current BGAN global network.

Cisco will build and operate the network on a fully managed basis before transferring it to Inmarsat, and will use its key software stacks of Service Delivery Platform and Prime to enable advanced capabilities such as voice, video, cloud application services and high speed internet access.

This GX/BGAN integrated platform will allow Inmarsat and its partners to rapidly develop and remotely deploy innovative applications to this new device and will extend the reach of new services across the whole Inmarsat network. Inmarsat will become a Global Partner for Cisco and both companies will bring their combined service capabilities to Inmarsat's value added resellers around the globe.

StockMarketWire.com
Satellite operator Inmarsat said during the third quarter to end-September, the global maritime business continued to see a strong take up of FleetBroadband.

Inmarsat reported over 2,100 net additions to the base of active terminals making a total installed base of over 32,000 at the end of the quarter.

Sales of XpressLink have also been encouraging with a number of new contracts signed.

Performance across other business sectors and the Inmarsat Solutions business has been positive and consistent with recently reported revenue trends.

Inmarsat expects to release an Interim Management Statement for the 3 months ended 30th September 2012 on 5th November 2012.

Rupert Pearce, CEO, said: "Trading during the third quarter has been consistent with trends reported for the second quarter and with our guidance for the full year."

StockMarketWire.com
Global mobile satellite communications services provider Inmarsat plc's total revenues - excluding LightSquared - rose by 5% to $322m in the three months to the end of September.

Wholesale maritime revenues rose by 17% and more than 2,100 FleetBroadband terminals were added during the quarter.

On a group basis, Inmarsat Global MSS revenue rose by 3% to $187m and Inmarsat Solutions revenue was up 4% at $206m.

Chief executive Rupert Pearce said, "The third quarter saw continued customer take-up of new services across our business sectors.

"In maritime, another very positive quarter was driven by the benefit of pricing initiatives earlier in the year and by the continuing strong take-up of FleetBroadband.

"Despite the headwinds we face from the on-going withdrawal from Afghanistan, results for our land mobile business improved with growth from IsatPhone Pro and positive underlying data growth due mainly to new BGAN subscribers."

My target of 630p reached. Next target 680p. Happy to hold while in uptrend.

well done harry.,.

Cheers Bb. Just wish I had spotted the rise earlier, but that's probably the way with most stocks!!!

Date for release of preliminary full year 2012 results
Inmarsat plc announces that it will report consolidated preliminary full year 2012 results on 7 March 2013. Inmarsat management will host a presentation of the results on Thursday, 7 March at Inmarsat's offices, 99 City Road, London EC1Y 1AX. The presentation will begin at 9:30am London time, (EST 4:30am). A live webcast of the presentation will also be available through our website.

StockMarketWire.com
Satellite communications specialist Inmarsat reported total revenue (excluding LightSquared) of $1.278bn for the year to end-December, up 6% on the prior year.

EBITDA (excluding LightSquared) $643m (2011: $662m).

Profit before tax $294m (2011: $367m).

Final dividend of 27.45 cents US$, up 10%.

Wholesale MSS revenues up 2.5%.

Wholesale maritime MSS revenues up 15%.

Total MSS active terminals up 14%.

Strong service take-up: FleetBroadband, XpressLink, IsatPhone Pro

Confidence in Global Xpress programme

Inmarsat Group Limited - Fourth Quarter Highlights

· Inmarsat Global MSS revenues $184m up 4% (2011: $178m)

· Inmarsat Solutions revenues $208m up 6% (2011: $196m)

· Total EBITDA (excluding LightSquared) $150m (2011: $154m)

Rupert Pearce, CEO, said, "We are making progress across a range of activities that strengthen our core franchise and bring us closer to addressing new markets with our Global Xpress services. We are pleased with the improved results from our core MSS business and we are confident in reiterating all of our existing revenue growth targets. At the same time, significant technical and commercial progress with our Global Xpress programme means we expect to begin network deployment in 2013 as planned."

Inmarsat plc Interim Management Statement

London, UK: 2 May 2013. Inmarsat plc (LSE: ISAT.L), the leading provider of global mobile satellite communications services, today provided the following information for the three months ended 31 March 2013.

Inmarsat plc - Highlights

· Total revenue (excluding LightSquared) $310.8m up 2.4% (2012: $303.5m)
· Wholesale maritime MSS revenues up 8.7%
· Strong subscriber growth: FleetBroadband, XpressLink, IsatPhone Pro
· Total active terminals up 16%
· Global Xpress programme on track and budget

Inmarsat Group Limited - First Quarter Highlights

· Inmarsat Global MSS revenues $184.6m up 3.7% (2012: $178.0m)
· Inmarsat Solutions revenues $189.5m (2012: $190.8m)
· Total EBITDA (excluding LightSquared) $154.2m (2012: $157.7m)

Rupert Pearce, Inmarsat's Chief Executive Officer, said, "The improved results from our wholesale MSS business have continued in the first quarter, with positive performances across our business sectors. We have also maintained momentum in subscriber additions for new services. These results provide for continued confidence in our outlook for full year revenues at the wholesale level. Within our Inmarsat Solutions retail segment we have seen results in line with our expectations from three of our four business units. However, in our US Government business unit, we have seen a sudden and pronounced deterioration in both demand and profitability, in each case principally related to US budget cuts. This has led to further margin compression in the Solutions business in the first quarter and we expect the current adverse market conditions for our US Government retail activities to continue for the time being. We aim to substantially mitigate the impact of this changed environment by addressing the cost base for our US Government business unit and by implementing other cost controls across the group. Looking ahead, we are making rapid progress with Alphasat and our Global Xpress programme and our deployment plans remain firmly on track."

http://www.moneyam.com/action/news/showArticle?id=4587095

Giles Thorne at Jefferies:
"The DISH / LightSquared news out over night is a material step forward in the LightSquared story but does not clearly crystallise any upside risk (or downside risk) to ISAT in our view. Inmarsat feel a high conviction read-across for the equity would be too speculative at this point. Notwithstanding, it is bound to introduce some short term volatility as the market wrestles with the implications for the LightSquared option value.
No clear steer yet on implications for Inmarsat. There will be a lot of speculation as to the read-across to Inmarsat from the overnight news. It is far from clear cut in our view. A bull case for Inmarsat would argue that if DISH was to purchase LightSquared’s spectrum, then the cooperation agreement would pass over to DISH and there would be a chance that payments to Inmarsat under the agreement would ultimately begin again (i.e. why would DISH be buying spectrum they felt they couldn’t use?). Equally, the bear case for Inmarsat would argue that if the DISH purchase proceeds either it buys just the spectrum and not the business (meaning the cooperation agreement won’t pass over, though admittedly this scenario feels less likely) or it shelves the cooperation agreement because it has enough spectrum from its recent purchases (Terrestar, potentially Clearwire) that they no longer need Inmarsat’s spectrum.
Recent progress with FCC. The DISH development follows news on 2 May that the FCC granted LightSquared authorisation to stage a three-month investigation into the technical feasibility of using the 1675MHz–1680MHz band for mobile broadband services on a shared basis with existing federal departments. This baby step forward in finding a way for LightSquared to bring its spectrum into use in a way that addresses the FCC’s concerns was a welcome glimmer of light.
Company view. Inmarsat management have gone out of their way since the cooperation agreement moratorium was put in place to lower expectations for future LightSquared payments and keep any potential upside out of the share price. We have spoken to the company this morning and they are unwilling / unable to strongly steer on what the implications are feeling that it is just too speculative at this point."

Date for release of 2013 interim results
Inmarsat plc will report consolidated interim results for the six months ended 30 June 2013 and Inmarsat Group Limited will release consolidated financial results for the second quarter ended 30 June 2013 on Friday 2 August at 07:00 hrs BST (London time).

INMARSAT CONFIRMS SUCCESSFUL LAUNCH OF ALPHASAT SATELLITE

26th July, 2013: Inmarsat, (LSE:ISAT.L), confirms the successful launch of the Alphasat satellite.

Alphasat was launched on an Ariane 5 ECA from the Guiana Space Centre in Kourou, French Guiana at 20.54hrs BST on 25th July (16.54hrs local time). Arianespace confirmed a successful spacecraft separation at 27 minutes 45 seconds after launch and the Alphasat Mission Operations Team confirmed telemetry reception and that they have command of the satellite at 21.47 BST.

The Alphasat satellite will shortly begin a deployment phase, followed by a period of in-orbit testing. This process is expected to last several weeks before commercial operations can begin. Inmarsat expects to provide an update on the deployment progress when it reports interim results on Friday, 2nd August.

Following the start of commercial operations, Alphasat will provide service to Europe, the Middle East and Africa. Alphasat will augment the existing Inmarsat-4 satellite network, which provides global mobile satellite services in L-band.

StockMarketWire.com
Satellite communications services provider Inmarsat has signed a long-term strategic partnership with RigNet targeting the energy sector.

RigNet will become a key Global Xpress distribution partner for the global energy sector and will offer Global Xpress and L-band services to RigNet's growing customer base.

RigNet has entered into to a significant four-year Global Xpress capacity pre-purchase. To further enhance the strategic value of the partnership, Inmarsat has agreed to sell to RigNet its retailenergy operations, currently managed within the Inmarsat Solutions Enterprise business unit, for a total consideration of US$25m.

The sale will include Inmarsat's microwave and WiMAX networks in the US Gulf of Mexico serving drillers, producers and energy vessel owners; its VSAT interests in Russia, the UK, the US and Canada, its telecommunications systems integration business operating worldwide, and its retail L-band energy satcoms business.

In 2012, the operations subject to the sale had total revenues of $81 million. The overall transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close during or before the first quarter 2014.

StockMarketWire.com
Morgan Stanley lifts Inmarsat to overweight from equalweight, target 820p from 740p.

5 November, 2013 - LONDON: Inmarsat plc (LSE: ISAT), the leading provider of global mobile satellite communications services, and ORBCOMM Inc. (Nasdaq: ORBC), a leading global provider of Machine-to-Machine (M2M) solutions, today announced a strategic alliance to collaborate on joint product development and distribution to address the needs of the rapidly growing satellite M2M market. In addition, they will investigate opportunities for future satellite network expansion and integration.

Inmarsat and ORBCOMM will work together to create a standard satellite platform and develop cost-effective hardware and flexible service pricing models for the global M2M industry. ORBCOMM is in the process of building a series of interchangeable modems powered by ORBCOMM's OG2 VHF network and Inmarsat's L-band network. These modems are expected to have the same footprint, connectors, power input, and programming environment. Manufacturers and partners will be able to drop in the appropriate modem that corresponds with either the ORBCOMM or Inmarsat network based on geography, message size and delivery speed for unrivaled ease of use and flexibility.

http://www.moneyam.com/action/news/showArticle?id=4699386

Inmarsat plc Interim Management Statement
London, UK: 7 November 2013. Inmarsat plc (LSE: ISAT.L) today provided the following information for the three months ended 30 September 2013.

Inmarsat plc - Highlights

· Total revenues $306.9m (2012: $325.9m)
· Total active terminals up 8%
· Solid MSS subscriber growth
· Strong growth in XpressLink, major contract win in October
· Global Xpress first launch scheduled for December
· Fourth Inmarsat-5 satellite ordered
· Strategic partnership with ORBCOMM

Inmarsat Group Limited - Third Quarter Highlights

· Inmarsat Global MSS revenues $187.6m up 0.5% (2012: $186.7m)
· Inmarsat Solutions revenues $188.3m (2012: $205.9m)
· Total EBITDA $168.7m up 3.6% (2012: $162.8m)

Rupert Pearce, Inmarsat's Chief Executive Officer, said, "The third quarter results continue to show that we are on target to achieve our objectives for the full year. Our MSS subscriber growth remains solid and we had a record quarter for our maritime XpressLink service, demonstrating the growing market interest and potential demand for GX.

With the first GX satellite launch now a matter of weeks away, we are turning our attention to 2014 which will be a year of transition. While GX revenues will begin late in the year, due in part to a later than planned first launch, much of the cost necessary to support GX will come on line as planned. In addition, while we have tightly controlled costs in 2013, we have added cost investment in L-band growth opportunities and this will continue. In 2014, this operating cost investment will coincide with a very difficult outlook for our US government business, particularly in our Inmarsat Solutions business, which we now expect to be even more pronounced in 2014.

The timing of these factors will naturally combine to apply some downward pressure on operating profits during the year 2014, but we remain confident in the outlook for GX and we reiterate our target of 8%-12% compound annual MSS revenue growth over the 2014 to 2016 period."

StockMarketWire.com
Global mobile satellite communications services provider Inmarsat has acquired the business and substantially all of the assets of Globe Wireless LLC.

Headquartered in Palm Bay, Florida, Globe Wireless is a leading provider of value-added maritime communications services to the shipping market.

Chief executive Rupert Pearce said: "This is a highly compelling transaction for Inmarsat."

3 February 2014 - Inmarsat (LSE:ISAT.L) today confirmed that, following regulatory and other approvals, it has now completed the sale of its retail energy operations to RigNet, Inc. (NASDAQ: RNET), a leading global provider of managed remote communications solutions to the oil and gas industry. The sale is part of a wide-ranging strategic transaction between the two companies, which also includes the appointment of RigNet as a Value Added Reseller (VAR) for Inmarsat's game-changing Global Xpress® service and as a Distribution Partner for Inmarsat's award-winning L-band services to the energy sector.

Under the deal, Inmarsat sold to RigNet substantially all of its retail energy broadband assets, which include Inmarsat's microwave and WiMAX networks in the US Gulf of Mexico, its VSAT interests in the UK, the US and Canada, its telecommunications systems integration business operating worldwide, and its retail L-band energy satcoms business. In 2012, the operations subject to the sale had total revenues of US$68 million. The transaction excludes Inmarsat's energy interests in Russia.

Date for release of preliminary full year 2013 results
Inmarsat plc announces that it will report consolidated Preliminary Full Year 2013 Results on Thursday 6 March 2014.

London, UK: 6 March 2014. Inmarsat plc (ISAT.L), the leading provider of global mobile satellite communications services, today reported consolidated preliminary financial results for the year ended 31 December 2013.

Inmarsat plc - Highlights

· Adjusted1 total revenues $1,249.6m (2012: $1,277.6m)
· Total Inmarsat Global MSS revenue $762.4m up 3.3% (2012: 738.0m)
· Adjusted2 EBITDA $639.8m (2012: $642.8m)
· Profit before tax $189.1m (2012: $293.6m)
· Adjusted3 profit before tax $365.3m up 8.6% (2012: $336.4m)
· Final dividend of 28.82 cents (US$) up 5%
· Continued subscriber growth: FleetBroadband, XpressLink, SwiftBroadband
· New CFO announced

Inmarsat Group Limited - Fourth Quarter Highlights

· Inmarsat Global MSS revenues $194.3m up 5.4% (2012: $184.4m)
· Inmarsat Solutions revenues $192.6m (2012: $208.2m)
· Total EBITDA $150.9m (2012: $150.5m)

http://www.moneyam.com/action/news/showArticle?id=4767811

Seems ISAT has played a key role in the search for the missing plane -

according to numerous press reports in this Google News search:

Plane Search - Inmarsat Role

Yep they put the ping in PING.

StockMarketWire.com
Global mobile satellite communications services provider Inmarsat's total revenues rose by 9.9% to $344.7m in the three months to the end of March.

Adjusted total earnings before interest, tax, depreciation and amortisation rose by 6.8% to $164.7m.

Chief executive Rupert Pearce said, "We have made a strong start to the year in both our wholesale MSS business and in our retail operations.

"Our MSS business grew by 4% year over year, driven by strong results from our maritime and aviation businesses. We have also completed two strategic transactions that enhance our existing business operations and build new capability and market reach that will benefit the successful take-up of Global Xpress.

"We remain on track for two further Inmarsat-5 launches in 2014 that will complete our GX network. Market interest in GX is building and a number of high profile customers have committed to service trials. New business for GX was signed during the quarter and GX service testing is progressing well.

"We remain confident that commercial GX services will be introduced in July in line with our plan. Finally, we are indebted to the skill and professionalism of our team in providing vital support and information in the search for the missing aircraft MH370."

Inmarsat offers free airline tracking

UK satellite operator Inmarsat is to offer a free, basic tracking service to all the world's passenger airliners.

The offer follows the case of Malaysia Airlines flight MH370, which disappeared without trace on 8 March.

StockMarketWire.com
Inmarsat has completed an offering of debt securities through Inmarsat Finance plc, a wholly-owned subsidiary company.

Inmarsat sold US$1,000,000,000 of 4.875% senior notes due 2022.

The offering was completed at a price of 99.191% plus accrued interest.

The company intends to use the proceeds principally to:

(i) fund a tender offer for any and all of its outstanding 7.375% Senior Notes due 2017 and satisfy and discharge any such remaining notes

(ii) pay fees and expenses in relation to the tender offer and redemption and the offering of the new notes, with the remaining proceeds to be used for general corporate purposes.

The new notes will be issued on 4 June 2014, subject to customary closing conditions.

Inmarsat to lead EU-wide roll out of in-flight passenger broadband services

· Inmarsat to deploy EU-wide integrated satellite/air-to-ground network over 30MHz of S-band, to serve rapidly developing demand for aviation passenger connectivity

· British Airways in advanced discussions to be a launch customer

London: 5 June 2014: Inmarsat plc (LSE: ISAT), the world's leading mobile satellite services operator, today announces its decision to deploy an integrated telecommunications network to deliver aviation passenger connectivity services on a EU-wide basis. To achieve this ambition, Inmarsat confirms its order for a new S-band satellite, to be called Europasat, and expects to complement this satellite with a fully integrated air-to-ground network across the EU.

Inmarsat's new aviation network will deliver high speed broadband services to commercial and business aviation passengers. These capabilities will be offered alongside Inmarsat's Global Xpress aviation services, extending Inmarsat's service coverage for aviation passengers seamlessly across the rest of the globe, and placing Inmarsat in a leadership position in the global in-flight passenger connectivity market. A market that is already both substantial and rapidly growing in North America and which offers exceptional growth potential globally.

Rupert Pearce, Inmarsat's CEO commented, "North America has seen rapid take-up of in-flight passenger connectivity services, with installation and usage both growing very quickly. The success of the Gogo air-to-ground network has already triggered the building of a second competing network by AT&T, one of the world's largest telecommunications operators. Independent research predicts that in-flight connectivity services will be a multi-billion dollar revenue sector by 2020.

"We believe that the same in-flight connectivity opportunity exists in Europe and that, with the support of EU telecoms regulators, Inmarsat can rapidly bring to market unique, high speed aviation passenger connectivity services to meet this market demand on an EU-wide basis. A number of European airlines are aligned with this vision and we are absolutely delighted to announce advanced discussions with British Airways to be a launch customer on our new aviation network."

Inmarsat on track for 2014, sees start of Global Xpress, announces EU aviation services

London, UK: 5 August 2014. Inmarsat plc (LSE: ISAT.L), the leading provider of global mobile satellite communications services, today provided the following information for the half year ended 30 June 2014.

Financial Highlights
· Total revenues $652.3m, up 1.9% (2013: $640.3m)

· Inmarsat Global Wholesale MSS revenues $387.6m, up 1.9% (2013: $380.5m)
· Adjusted[1]total revenues $605.2m (2013: $635.2m)

· EBITDA $369.7m, up 12.3% (2013: $329.2m)
· Adjusted1 EBITDA $322.8m (2013: $327.2m)

· Profit before tax $168.3m (2013: $185.5m)

· Interim dividend of 18.68 cents, up 5%

· Issue of $1 billion 4.875% Senior Notes due 2022

Operational Highlights
· Global Xpress commercial services started on Inmarsat-5 F1 on 1 July 2014
· New European Aviation Network Programme announced
o Memorandum of Understanding signed with British Airways to be a launch customer

Inmarsat Group Limited - results for the Second Quarter

· Total revenues $307.6m (2013: $326.6m)
· Inmarsat Global MSS revenues $196.1m (2013: $195.9m)
· EBITDA $159.9m (2013: $174.0m)

Rupert Pearce, Inmarsat's Chief Executive Officer, commented, "Inmarsat continued to make good progress in the first half against a strong prior half year performance. We saw strong growth in Maritime and Aviation but continued to see slowdown in Government expenditure. We again added FleetBroadband, XpressLink and SwiftBroadband subscribers, whilst maintaining ARPU. We also announced a major new initiative to develop a combined satellite and terrestrial network to provide in-flight passenger services across Europe using our S-band spectrum licenses. Finally, we ended the period on a high note with the commercial launch of Global Xpress ("GX") services on 1 July and, following an extensive testing programme, the US Government became our first GX customer, taking service from the first day of availability. Following the recent Proton launch failure, the launch of our remaining GX satellites is likely to be delayed but we nevertheless remain very confident of the medium-term growth opportunities for the company."

24 September 2014 - Inmarsat plc is today hosting a presentation for investors and analysts at the company's headquarters in London.

Starting at 8.30am, the agenda will focus on all aspects of Inmarsat's business, with presentations from senior management.

The materials which will be presented at the meeting are available on Inmarsat's website www.inmarsat.com.

The event is available to join via live webcast and you can access this via the Investor Relations page on the inmarsat.com website. A replay of the meeting will also be available after the event.

For further information please contact Inmarsat Investor Relations on 020 7728 1206 or at investor.relations@inmarsatcom

StockMarketWire.com
Global mobile satellite communications services provider Inmarsat posts pre-tax profits of $104,1m for the three months to the end of September - up from $23.5m last time.

But total revenues fell to $300.6m - down from $306.9m - and earnings before interest, tax, depreciation and amortisation fell to $166.0m from $168.7m.

Chief executive Rupert Pearce said: "Inmarsat continued to make good progress in the third quarter, delivering core business growth and moving ahead towards completion of the Global Xpress constellation.

"Global Xpress service from our first Inmarsat-5 satellite was launched at the start of the quarter and is delivering operational performance ahead of expectations. Following Proton's return to flight in the quarter, and a second successful launch in October, we currently expect our two remaining I-5 satellites to launch in early 2015. This puts us on track for global introduction of GX services early in the second half of 2015 and we remain confident that we will deliver our 2014-16 MSS revenue growth target of 8-12%, and generate annual GX revenues of $500m by the fifth anniversary of the launch of global GX services.

"All of our businesses performed in line with our expectations during the quarter. Underlying revenue growth continued in Maritime, Enterprise and Aviation (excluding the impact of acquisitions and disposals) driven by customer growth and higher ARPU across many of our product ranges. In Government we saw the continuing revenue impact of budgetary pressures and reduced operational requirements, partially offset by encouraging developments in the newer markets we are targeting."

StockMarketWire.com
Global mobile satellite communications services provider Inmarsat has entered into binding agreements to sell its 19% holding in SkyWave Mobile Communications to ORBCOMM Inc for total expected proceeds at closing of $32.2m.

ORBCOMM has in turn entered into binding agreements to acquire 100% of SkyWave subject to regulatory approvals.

Closing is expected in early 2015. The share sale is one part of a suite of agreements with ORBCOMM, a leading global provider of machine-to-machine (M2M) solutions, which will collectively enhance ORBCOMM's and Inmarsat's M2M capabilities.

These agreements cover the joint ownership and future development and commercialisation of the IsatData Pro (IDP) technology, enabling Inmarsat to enhance the offering to its M2M partner ecosystem,further supporting the adoption of IDP in multiple new markets.

As part of the agreements with ORBCOMM, Inmarsat will acquire SkyWave's satellite network assets, which are hosted at three Inmarsat Satellite Access Stations around the world, for $7.5m.

StockMarketWire.com
Inmarsat has announced that Alcatel-Lucent has become a technology partner for the development of a new, fully integrated telecommunications network to deliver high-speed broadband services to commercial and business aviation passengers across the European Union.

The unique network, which places Europe at the forefront of passenger aviation connectivity, is scheduled to enter commercial service by the end of 2016.

The new network represents two world-beating achievements for Inmarsat and its partners. It will be the world's first truly hybrid aviation network, consisting of an S-band satellite (Europasat), constructed by Thales Alenia Space, and a Europe-wide S-band ground network. Over the integrated network, based on state-of-the-art LTE technology and access to sufficient spectrum resources, Inmarsat will be offering airlines the world's fastest in-flight broadband connectivity service with speeds up to 75Mbps, far in excess of the limited capabilities of North American ATG systems.

Alcatel-Lucent and Inmarsat will work together to develop the ground infrastructure component of the new Europe-wide network. Alcatel-Lucent has proven expertise in the development of 4G LTE-based air-to-ground technology and was the world's first company to field trial this technology in 2011. The initial contract awarded to Alcatel-Lucent will see the global telecommunications equipment company adapting their existing 4G LTE technology to support the S-band spectrum.

StockMarketWire.com
Inmarsat will announce its preliminary results for the 12 months ended 31 December on 5th March 2015.

London, UK: 5 March 2015. Inmarsat plc (LSE: ISAT.L), the leading provider of global mobile satellite communications services, today provided the following information for the twelve months ended 31 December 2014.

Full Year Financial Headlines
· Total revenues $1,285.9m (2013: $1,261.9m)

o Maritime up $70.8m to $595.6m (+13.5%); underlying growth (excl. acquisition) +3.2%

o Government down $88.4m to $319.9m (-21.7%)

o Enterprise down $54.9m to $166.7m (-24.8%); underlying growth (excl. disposal) +6.2%

o Aviation up $27.7m to $101.1m (+37.7%)

o $75.4m from LightSquared (2013: $12.3m)

· Wholesale Mobile Satellite Service (MSS) revenues $791.4m, up 3.8% (2013: $762.4m)

· EBITDA1 $701.0m (2013: $648.8m)

· Profit after tax $341.1m (2013: $102.6m)

· Final dividend increased by 5% to 30.26 cents/share (2013: 28.82 cents/share)

Business Highlights
· Global Xpress (GX) commercial services started on Inmarsat-5 F1 on 1 July 2014; I-5 F2 launched successfully on 1 February 2015

· European aviation network programme announced; first MSS and ground licences acquired

· Acquisition of Globe Wireless, disposal of retail energy related assets and 19% stake in SkyWave

· Issue of $1 billion of 4.875% Senior Notes due 2022

· Innovative new products and services launched across all Business Units

Fourth Quarter Financial Headlines
· Total revenues $333.0m (2013: $314.8m)

o $18.5m from LightSquared (Q4 2013: $2.4m)

· Wholesale Mobile Satellite Service (MSS) revenues $211.8m, up 9.0% (2013: $194.4m)

· EBITDA1 $165.3m (2013: $150.9m)

StockMarketWire.com
Inmarsat has announced that it will report Results for the 3 months ended 31 March 2015 on Wednesday 6th May at 07.00 hrs GMT.

The company will host a conference call to discuss the results at 08.30 hrs London time.

StockMarketWire.com
Inmarsat reports a solid trading for the three months to the end of Mach and remains on track for the launch of a third GX satellite.

Total revenues fell to $304.8m - down from $344.7m a year ago.

This comprised: Maritime up $1.6m to $149.8m (+1.1%); Government down $12.7m to $66.8m (-16.0%); Enterprise down $5.5m to $38.9m (-12.4%); underlying growth (excl. disposal) +6.9%; Aviation up $4.9m to $27.1m (+22.1%); revenues from LightSquared down $27.8m to $17.5m (Q1 2014: $45.3m).

Wholesale Mobile Satellite Service (MSS) revenues rose to $198.2m, up 3.5% (Q1 2014: $191.5m). Total EBITDA fell to $176.8m (Q1 2014: $209.9m) and profit after tax fell to $77.4m (Q1 2014: $100.2m).

Chief executive Rupert Pearce said: "This was a solid quarter of trading, although starting slowly, in particular in Maritime and certain Government contracts. However momentum developed well towards the end of the period, especially in Maritime, with strong growth in FleetBroadband subscribers and ARPU as well as XpressLink installations. We remain confident about the underlying growth and margin trends across all of our business units, and that we will deliver our wholesale MSS revenue target for 2015 and beyond.

"Our third GX satellite, I-5 F3, has been shipped to Baikonur and is on track for launch in early June. We now expect commercial launch of global GX services mid-to-late in the third quarter, which is slightly later than originally planned but does not change our expectations for GX revenue growth in 2015 or over the longer term.

"There was significant progress in Aviation in the quarter, with several major new cabin connectivity contracts in advanced stages of negotiation, and the S-band licence acquisition process moving forward well. Plans for developing our air-to-ground network are also progressing well."

StockMarketWire.com
Inmarsat has confirmed that the launch of Inmarsat-5 F3 has been delayed.

According to an announcement by Inmarsat's launch partner, ILS, the Proton Breeze M rocket carrying the Centenario satellite suffered a disabling anomaly during the operation of the third stage, approximately eight minutes after lift-off, resulting in the loss of the satellite and rocket.

A Russian State Commission has begun the process of determining the reasons for the failure.

In parallel with the State Commission, ILS will form its own Failure Review Oversight Board, which will review the State Commission's final report and corrective action plan, in accord with U.S. and Russian government export control regulations.

Inmarsat chief executive Rupert Pearce, speaking about the planned ILS launch of Inmarsat-5 F3, said: "This incident involving a failed Proton launch from the Baikonur Cosmodrome is extremely unfortunate and will inevitably delay our launch plans for our third Global Xpress satellite.

"This is the third time our Global Xpress programme has suffered launch delays because of Proton launch failures. Although in the past, Proton has returned to flight within a few months of a launch failure, it will not be possible to determine the length of the delay in the launch of I-5 F3 until the cause of the Centenario launch failure is established. Customers are understandably anxious to see the delivery of GX services on a global basis, and as soon as we have sufficient information to ascertain the new launch date for I-5 F3, we will make the information public, as well as comment further on the impact of the delayed launch of I-5 F3.

"Meanwhile, we are pleased by the strong interest in GX services across many customer constituencies and buoyed by early revenues from I-5 F1, which is in service over EMEA and Asia, and by the successful delivery of I-5 F2 into orbit over the Americas. We are also reassured that I-5 F4 is currently under construction by Boeing in California, and remains on schedule for completion in mid-2016, with a potential SpaceX launch in the second half of 2016, providing us with significant mission assurance in the case of any protracted delays in Proton's return to flight, or a failed launch of I-5 F3."

The delay in the launch of Inmarsat-5 F3 is currently expected to have a small negative effect on 2015 revenue and earnings. The impact in subsequent years cannot currently be determined due to timing uncertainty and consequently Inmarsat is therefore suspending its guidance of an 8-12% CAGR in wholesale MSS revenues over 2014-16. The medium term expectation for GX to deliver no less than $500m of additional revenues by the fifth anniversary of the global launch of commercial GX services and the related revenue growth profile are currently not changed by this delay.

Cazenove note:
"Q2 revenues are 2.5% below company consensus owing to Maritime which suffered accelerated declines in Fleet and other legacy services. This, twinned with a softer Government margin, drove a 4.9% EBITDA miss. However we take comfort from the new FY revenue guidance which, on a LFL basis, is just 0.8% ($10m) below consensus (Q2 miss $8m) and hence argues against extrapolating Q2 trends into H2. Separately Inmarsat has confirmed the I-5 F3 launch is now expected in August (so we may get new medium-term guidance targets by Q3) and management are in advanced negotiations with airlines to provide cabin connectivity with a first contract win anticipated in H2.
 Revenues miss due to Maritime: Revenue $311m (+1.2% y/y) is 2.5% (or $8m) below consensus. The miss is led by Maritime -3.5% y/y (Q1 +1.1%). Whilst core FB and VSAT revenues were +17% and +11% y/y, respectively, the 26% of revenues coming from Fleet and Legacy services were -55% and -24% y/y in the quarter. As the significance of these non-core revenues continues to diminish, so should the drag they present to the Maritime unit.
 Mid-point of new revenue guidance is a modest 0.8% below consensus: Guidance of $1250-1300m now includes $70m from LightSquared and a $25m impact from the I-5 F3 launch delay. On a LFL basis consensus is $1285m, just $10m (0.8%) above the mid point of guidance. With the $10m FY deviation similar to the $8m Q2 revenue miss, it implies no change in the H2 outlook and that management anticipate stronger H2 revenue trends.
 Estimates: Ex LightSquared we lower revenues 4% pa and EBITDA 3-6% pa. But including LightSquared for 2015 to align with guidance (still left out of future years) leaves this year’s headline revenues unchanged and raises EBITDA 5%. Adjusting for the pre-guided GX delay, our new EBITDA forecasts are a modest $10m pa (1%) below company consensus.
 Valuation: Rolling forward to Dec-16, updating FX rates and raising our LightSquared contribution raises our SoTP TP from 910p to 1050p (20% upside). 15E/16E/17E EV/EBITDA 13x/11x/9x and EFCF yield 2%/2%/5% show that once GX revenues ramp, Inmarsat’s multiples reduce. We do not include LightSquared payments post 2015E nor aviation cabin connectivity growth within our forecasts, but both offer sources of possible upside."

17th August 2015 - Inmarsat (LSE:ISAT.L), the leading provider of global mobile satellite communications services, today confirmed that the third satellite in the transformational Global Xpress (GX) programme - Inmarsat-5 F3 (I-5 F3) - has been scheduled for launch at the Baikonur Cosmodrome in Kazakhstan at 12.44pm (BST) on Friday 28th August 2015.

The third Global Xpress satellite to be launched, I-5 F3, will cover the Pacific Ocean Region and will, together with Inmarsat-5 F1 and Inmarsat-5 F2, create the world's first globally available, high-speed mobile broadband service, delivered through a single provider.

Inmarsat's 5th generation satellites have all been built by Boeing Satellite Systems International Inc. in California. The launch is being undertaken for Inmarsat by International Launch Services ("ILS") using a Proton launch vehicle.

Global Xpress will deliver broadband speeds around 100 times faster than the company's fourth generation (I-4) constellation. It will offer new opportunities for customers, in both the public and private sectors, to significantly enhance their connectivity and to access bandwidth-hungry applications, even in the remotest and most inaccessible regions of the world.

StockMarketWire.com
Berenberg Bank has downgraded its investment rating on Inmarsat (LON:ISAT) to sell from hold, stating that it sees considerable competitive and regulatory headwinds, which it believes are not currently reflected in the current share price.

Notwithstanding today's downgrade, the broker added: "The consensus view is that after the recent successful Global Xpress launch, Inmarsat is now free to reap the rewards of its much delayed GX investment programme, and then at end-2016, start to see material growth from its S-band European air-to-ground (ATG) network."

Analysts have trimmed their target price to 870 pence a share from 900 pence.

StockMarketWire.com
Inmarsat has announced a strategic partnership with Deutsche Telekom to bring unprecedented passenger connectivity to Europe's aviation industry and its customers.

A new innovative, combined satellite network and LTE-based ground network will deliver travellers in Europe the advantage of in-flight high-speed Internet access when in the air.

Airlines will benefit from a cost efficient and high speed, high capacity connectivity solution.

Inmarsat and Deutsche Telekom are working together to develop the European Aviation Network, seamlessly combining satellite connectivity from a new Inmarsat S-band satellite with an LTE-based ground network, operating in the same frequency band, developed and run by Deutsche Telekom.

The connectivity platform developed by Inmarsat and Deutsche Telekom has been designed specifically to meet the growing needs of passengers travelling across Europe, which includes some of the highest density air-traffic routes in the world.

It provides a long-term solution with abundant capacity, speed and coverage to equal an at-home high-speed broadband customer experience while aboard an airplane.

StockMarketWire.com
Inmarsat is reiterating its guidance for 2015 with group revenue for the full year expected to be in the range of $1,250m to $1,300m, including revenue of $70m expected to be received from LightSquared during the full year.

Capex for the full year is expected to be in the range of $450m - $500m.

Inmarsat is today hosting a capital markets day for investors and analysts at its offices at 99 City Road, London EC1. The event will run from 8.30 a.m. until approximately 12.30 p.m. and will focus on business strategy and operations, including presentations by chief executive Rupert Pearce and chief financial officer Tony Bates and the heads of Inmarsat's five business units.

The company will discuss the approach it will take to future financial guidance. No material new information is being made available today.

The capital markets day is being web-cast on www.inmarsat.com and the presentation slides available for download.

StockMarketWire.com
Global mobile satellite communications services provider Inmarsat has signed a contract to provide high-speed inflight connectivity services for passengers onboard Lufthansa's European continental fleet. The contract, which follows the memorandum of understanding announced between Inmarsat and Lufthansa last month, formalises not only a 10 year strategic partnership between Lufthansa Group and Inmarsat, but also provides a contract framework to extend the service to the other airline brands in the group.

Under the agreement, Inmarsat will equip more than 150 Lufthansa airlines aircraft with Global Xpress (GX), with additional Lufthansa Group aircraft being added in due course. The first of these aircraft will be equipped and tested in early summer 2016. Lufthansa will additionally be trialling the European Aviation Network in 2017.

StockMarketWire.com
Satellite communications services provider Inmarsat is on track after a solid third quarter bolstered by its aviation division.

Total revenues rose to $323.1m (2014: $300.6m) with maritime up $2.6m to $150.2m (+1.8%); government up $0.9m to $77.2m (+1.2%); enterprise down $1.2m to $39.7m (-2.9%); aviation up $11.9m to $32.6m (+57.5%) and $17.9m from LightSquared (2014: $9.8m).

Wholesale Mobile Satellite Service (MSS) revenues rose to $213.7m, up 11.3% (2014: $192.0m) and total EBITDA increased to $180.2m (2014: $166.0m).

Chief executive Rupert Pearce said: "We delivered solid growth in the quarter, across our business. In Maritime, higher FleetBroadband and XpressLink revenue off-set the continuing decline in legacy services, enabling a resumption of growth. A number of new contracts in the US and other government markets allowed us to report growth in our Government business for the first time for several years. Enterprise experienced an Isatphone 2 manufacturing issue, now resolved. Aviation had another strong quarter, financially and strategically.

"The successful launch of I-5 F3 at the end of August means that we expect to introduce GX commercial services globally by the end of the year. This will be a key milestone for Inmarsat, enabling us to deliver the high-speed, high-volume seamless global service that customers want, and to start to build towards our medium-term revenue targets for GX.

"Our Aviation business also took two major steps forward, when we joined in a strategic partnership with Deutsche Telekom to develop the ground component of our European Aviation Network. We also signed an MOU with Lufthansa, which has now become a ten-year contract, to provide high-speed inflight connectivity services on board Lufthansa's European fleet.

"In the third quarter we therefore saw real progress across all three of the core elements of our strategy - L-band, GX, and aviation passenger connectivity - and we are confident that we can maintain this momentum in all of these areas of opportunity for Inmarsat."

StockMarketWire.com
Inmarsat's GX Aviation high-speed connectivity service is to be deployed by Singapore Airlines for passengers on-board its long-haul fleet. The services are procured by the airline from Inmarsat's partner SITAONAIR and will be powered by Honeywell's JetWave satellite communications hardware.

The first installation is scheduled for the second half of 2016, starting with Singapore Airlines' Boeing B777-300ER aircraft, which will be followed by its Airbus A380-800s and A350-900s.

Credit Suisse today reaffirms its outperform investment rating on Inmarsat PLC (LON:ISAT) and raised its price target to 1186p (from 1080p).

Barclays Capital today downgrades its investment rating on Inmarsat PLC (LON:ISAT) to underweight (from equal weight) and raised its price target to 1000p (from 740p).

StockMarketWire.com
Global mobile satellite communications services provider Inmarsat's total revenues were flat at USD1,274.1m in the year to the end of December (2014: USD1,275.1m).

EBITDA rose by 3.6% to USD726.0m but profit after tax fell to USD282.0m from USD341.1m.

Final dividend is up by 5.0% to 31.78 cents per share.

Chief executive Rupert Pearce said: "2015 has been another year of solid achievement during a period of transition as we bring our Global Xpress services to market and establish our new European Aviation Network. We have been equal to the challenges of some very difficult market conditions whilst putting in place the foundations for an exciting future with higher growth and a more diversified business.

"We successfully launched the second and third Inmarsat-5 Global Xpress Ka-band satellites in February and August 2015 respectively and in December we announced Global Commercial Service Introduction for Global Xpress. We now have the satellite platform in place to deliver a steadily growing material new revenue stream for the Group.

"We also made significant progress on our plans to develop a new aviation cabin connectivity opportunity globally. In Europe, we put in place a partnership with Deutsche Telekom for them to build the air-to-ground network that will be fully integrated with our S-band satellite programme to form the European Aviation Network, the world's first hybrid network for broadband connectivity to aircraft. We continued our efforts to secure necessary ground and satellite licences in all 28 EU member states and two further European countries, and now have 28 satellite authorisations in Europe and confirmations from 18 countries regarding ground-based licences. Our negotiations with individual airlines also continued, with notable deals for Global Xpress services being concluded with Deutsche Lufthansa and Singapore Airlines. I expect to be able to report further progress in this area in 2016 given continued strong customer interest.

"After adjusting for disposals, total Group revenues were unchanged on last year, driven mainly by growth in our revenues from Aviation, Enterprise and LightSquared but with continuing weakness in government expenditure across the globe. Maritime revenues were little changed, with strong growth in our two key products, FleetBroadband and XpressLink, continuing to be offset by decline in our non-core legacy product suite.

"EBITDA increased by $25m reflecting unchanged revenues but lower costs as the impact of improved product mix more than offset the additional costs incurred to deliver the new opportunities in Aviation and to support our new GX infrastructure. We will invest further in these areas over the coming years to maximise the longer term opportunities for growth."

Berenberg today upgrades its investment rating on Inmarsat PLC (LON:ISAT) to hold (from sell) and cut its price target to 890p (from 900p).

StockMarketWire.com
Inmarsat says Ligado Networks - formerly known as LightSquared - has elected for the 30 MHz option under the cooperation agreement between the two companies.

Inmarsat and Ligado Networks remain in discussion around the details of the plan and consequent change in payments.

Further details will be announced in due course.

Morgan Stanley note:
"Downgrade to Equal-weight: Despite a 33% YTD decline in the shares (offsetting +42% in 2015), we see: (1) 2018 revenue guidance as too ambitious. Management has already cut 2016 revenue guidance by 4%, but kept 2018 targets, and we expect these to be the next to fall away; and (2) Scope for earnings downgrades. We cut 2017-18 EPS forecasts by 18-22%.
Cutting estimates below guidance and consensus: Inmarsat targets revenue growth of 2% in 2016, but sees acceleration to 11-13% CAGR for 2017 and 2018. We think this looks too ambitious given pressure in the data business, with Eutelsat citing “slowing industry-wide growth”. The revenue uplift for Inmarsat relies on Global Xpress, predominantly in the maritime and government markets. In Maritime, in particular, we see 2 headwinds: (1) Recession in the global maritime market resulting in vessels being laid up or scrapped; (2) Increased competition in new growth markets, such as for cruise liners and oil & gas rigs (see O3b’s contract with Royal Caribbean). We still look for 8% mid-term revenue growth, but sit 8% below the mid-point of the 2018 revenue target.
PT cut to 800p driven by lower estimates and terminal growth. We think the market values the core satellite business at a P/E of 18x for 2017 and 16x for 2018 (considering 200p in value for Ligado Networks – formerly LightSquared). FSS peers trade on 15x 2018 earnings. We acknowledge that the Inmarsat multiple could come under pressure if further negative industry news were to materialise given the high expected growth built into forecasts (MSe +8% revenues, +21% EPS over 2016-18 CAGR).
What could go right: (1) New airline deals would be supportive. Indeed, the last agreement was in Nov 15 with Singapore Airlines for GX, and management says talks with other airlines are ongoing. (2) Launch of the 4th GX satellite is due in the latter part of 2016 and management will provide an update on guidance closer to the launch date. We assume $40mn of revenues in 2017, ramping up to $60mn in 2018 before reaching its steady run-rate of $100mn by 2019. (3) New acquisitions – management has not commented on the potential for new deals, but we note that M&A has been a strategy to boost growth in the past (eg, purchase of ShipEquip in 2011)."

StockMarketWire.com
SpeedCast International, one of the world's leading providers of high-speed broadband connectivity to the global maritime industry, has entered into an important strategic partnership with Inmarsat.

The agreement positions Inmarsat's new Fleet Xpress service, powered by the Global Xpress (GX) network, as a key service within its maritime services portfolio, being fully integrated with SpeedCast's existing maritime SIGMA gateway and other value added services. Over the next five years, SpeedCast has committed to roll out Fleet Xpress to approximately 2,000 vessels.

StockMarketWire.com
Inmarsat returned to growth in the second quarter, more than compensating for a soft first quarter.

Inmarsat said good revenue growth in Aviation, Government and Ligado Networks ('Ligado') outweighed weaker results in Maritime and Enterprise. Margins expanded in Q2 mainly reflecting an improved revenue mix and Sterling weakness.

Second quarter financial headlines:
- Total revenues up $19.0m (+6.1%) at $330.4m (Q2 2015: $311.4m)

* Maritime $0.7m lower at $146.6m (-0.5%)

* Government up $1.6m to $72.0m (+2.3%)

* Enterprise $1.9m lower at $38.5m (-4.7%)

* Aviation up $2.6m to $33.4m (+8.4%)

* Ligado Networks income up $18.0m at $35.5m (+102.9%)

- EBITDA up $36.3m (+21.9%) at $202.2m (Q2 2015: $165.9m)

- Profit after tax up $22.6m (+41.7%) at $76.8m (Q2 2015: $54.2m)

Half year headlines:

- Total revenues up $12.8m (+2.1%) at $629.0m (2015: $616.2m)

* Ligado Networks income up $18.4m to $53.4m (+52.6%)

- EBITDA up $25.7m (+7.5%) at $368.4m (2015: $342.7m)

Chief executive Rupert Pearce said: "We continue to compete aggressively and successfully in all of our core markets and to make solid progress with our long term GX and Aviation growth agendas.

"Strong customer interest for GX is evident in all of our Business Units. In Maritime, we secured three major strategic deals which will bring over 5,000 vessels to GX over the next five years. In Government the take up of GX is gaining traction with rising revenues and strong operational interest. In Aviation, whilst closing cabin connectivity deals is taking longer than we expected, we have continued to make further progress, competing strongly in ongoing airline tenders for passenger connectivity services and the build out of our European Aviation Network is running to plan. We are currently conducting a worldwide live demonstration of our GX Aviation services to major airlines, which has been extremely well-received. I therefore continue to be confident in the long term growth prospects for the Group.

"Nevertheless, our markets continue to be challenging and the outlook is becoming much harder to call as the macro economic environment worsens, new satellite capacity arrives driving prices lower, our new GX products launch and the Aviation passenger connectivity market becomes established.

"I was also pleased to be able to report at the end of Q1 that Ligado Networks had opted to take the 30 MHz option under our Cooperation Agreement. This agreement is expected to provide several hundred million dollars of value to our shareholders over the next three years.

"I am pleased to announce an increased interim dividend of 20.59 cents per share for 2016. With effect from this interim dividend, we will also be providing our shareholders with more choice through the option of a scrip dividend alternative."

Inmarsat also announced that its wholly-owned subsidiary, Inmarsat Government, has been issued modification P00001 to lift the stop-work order issued due to a bid protest filed on the initial award. Inmarsat Government remains the awardee on the single award indefinite-delivery/indefinite-quantity contract issued against solicitation HC1013-14-R-0004 announced Sept. 8, 2015.

This contract supports the U.S Navy's Commercial Broadband Satellite Program (CBSP) Satellite Services Contract (CSSC). The single award consists of a base one-year period with four one-year option periods through 2021. Under the contract, Inmarsat Government will support the U.S. Navy's requirement to acquire worldwide commercial telecommunication services, to include satellite capacity for mobile and fixed satellite transceivers on maritime, airborne and ground platforms, as well as CT services, backhaul connectivity, monitoring and control and operations. CSSC will augment government-owned and operated telecommunication systems, providing significant improvement in data throughput and capacity redundancy to military satellite communications to meet critical mission requirements.

And Navarino, one of the world's leading providers of satellite communications solutions to the merchant marine market, has entered into a new agreement with Inmarsat to integrate Fleet Xpress into Navarino's existing service portfolio. Through the agreement, Navarino will bring more than 1,200 vessels to the Fleet Xpress service over a six-year period.

StockMarketWire.com
Global mobile satellite communications provider Inmarsat has signed a contract to launch its S-band satellite for the European Aviation Network (on an Ariane 5 heavy lift launch vehicle.

The EAN payload is part of a 'condosat' constructed by Thales Alenia Space, which incorporates a second payload for Hellas-Sat. The condosat is scheduled to be launched from the Guiana Space Center in Kourou, French Guiana in mid-2017. The condosat was originally scheduled for launch with SpaceX. However, following the delay in SpaceX's launch schedule, Inmarsat and Hellas-Sat took the decision to move the condosat to an Arianespace launch.

StockMarketWire.com
Inmarsat has strengthend its relationship with Satlink Satellite Communications which has entered into a new agreement to integrate Fleet Xpress into its existing service portfolio.

Inmarsat said Satlink will bring more than 1,500 vessels to the Fleet Xpress service over a five-year period.

Inmarsat Maritime president Ronald Spithout said: "Satlink is a long-standing Inmarsat Maritime partner and we are delighted to further strengthen our relationship with this significant agreement.

"We are seeing an unprecedented uptake of the Fleet Xpress service since its launch last year, and by working with Satlink, we are able to extend our global reach and expertise to the market.

"The connected ship is no longer a concept, but now rapidly becoming a reality.

"With our, world-leading, high-speed broadband connectivity and a dedicated partner network, together we are revolutionising the industry and delivering tangible benefits in terms of vessel performance, driving operational efficiencies and improving the wellbeing of the crew."

Satellite communications company Inmarsat got a boost on Thursday as Macquarie upgraded the stock to ‘outperform’ from 'neutral' and gave it a target price of 850p, saying it may at an inflection point.

Macquarie said it can no longer ignore a potential takeout scenario given the strategic value of Inmarsat’s global Ka/L-band footprint, access to niche markets generating above-peer 5%+ 3-year compound annual growth rate and sizeable spectrum holdings.

In addition, it pointed out that the shares are trading at a 10% discount to peers or 7x 2018 earnings before interest, taxes, depreciation and amortisation, which it reckons is enough to warrant a second look.

The bank also argued that while a guidance downgrade is likely on the 4Q16 call, consensus estimates for 2018 revenues are already below management’s long-term outlook, which looks baked into the price.

“4Q16 results will likely confirm what investors already suspected for a long time: the 2018 guidance issued in early 2016 is untenable amid delays in airline orders, regulatory approvals and sub mix headwinds in its bread and butter segment, Maritime.

“However, this may be more of a formality - consensus revenue expectations for 2018 have approached our $1.38bn estimate versus management’s $1.45-1.60bn outlook.”

Inmarsat revenues up 4.3%, beating expectations

Revenues at Inmarsat rose 7 per cent in the final quarter of the year and 4.3 per cent overall in 2016, beating analysts’ expectations as strong growth in the satellite telecommunications company’s government and aviation divisions outweighed a fall in maritime business.

Group revenue at the British company hit $1.329bn in 2016, ahead of expectations of $1.307bn, while earnings before interest, tax, depreciation and amortisation rose 9.5 per cent over the year to $794.8m and rose 9.2 per cent in the fourth quarter to $221.8m.Profit after tax took a hit, however, falling 23.9 per cent in the fourth quarter to $67.1m and 13.7 per cent over the year to $243.3m, driven by a rise in net financing costs.The company said it “remained confident” about the medium to long term outlook for the business but warned that its markets “continued to be challenging, with sustained pressure on customer expenditure, increasing competition and the arrival of new satellite capacity in some of our markets”. As a result, Inmarsat said there was “an unusually wide range” of possible outcomes for the performance of the business in 2017 and 2018, but made no changes to its guidelines for 2017 and 2018 revenue of $1.2-1.3bn and $1.3-1.5bn respectively and excluding an agreement with US wireless company Ligado.The company has been striking deals with major airlines such as Air New Zealand and British Airways to provide in flight wifi services as well as increasing government contracts. A key issue for Inmarsat has been whether in-flight broadband can grow enough to offset disappointing performance in its maritime division. Revenues in its aviation division were up 12.5 per cent over the year while government revenues rose 15.3 per cent. This helped to offset a fall in the maritime division – Inmarsat’s largest, accounting for two-fifths of revenues – of 3 per cent.The telecoms company has been the subject of takeover buzz recently, with shares rising in February after the head of US pay-television provider Dish Networks predicted sector consolidation. Analysts believe Dish sister company EchoStar is a logical potential buyer of Inmarsat.

Inmarsat plc reports First Quarter Results 2017

Performance Highlights
· Solid performance in Q1 2017, despite markets which continue to be challenging:
o Group revenue grew 11.3% to $332.2m, (grew 7.5% to $301.7m, excluding Ligado)
o EBITDA2 grew 9.2% to $181.5m (grew 1.8% to $151.0m, excluding Ligado)

· Outlook and future guidance, disclosed on 8 March 2017, remain unchanged

· Continued positive impact of Global Xpress ("GX"):
o GX delivered revenue of $32.1m in Q1 2017, mainly from Government customers
o Continue to expect launch of I-5 F4 satellite during Q2 2017

Maritime:
o Now over 10,000 vessels committed to Fleet Xpress ("FX")
o Distribution agreement signed with Satlink to install FX on over 1,500 vessels
o Resilient performance from FleetBroadband ("FB")

Government:
o Another strong performance, despite continued market uncertainty
o FirstNet contract win provides further validation of our strong US Government relationships

Aviation:
o Core business continued to grow, with over 16,500 connected terminals, and the first installations of JetConneX completed
o Further positive momentum achieved in in-flight connectivity ("IFC"), with 65 GX terminals installed by the end of the quarter, and over 950 expected aircraft under signed contracts
o Commitments to GX announced by AirAsia and Qatar Airways so far in second quarter, representing an additional 250 aircraft to utilise GX for IFC services
o On track for commercial service introduction of European Aviation Network ("EAN") during H2 2017, with launch of S-band satellite expected to take place by end of Q2 2017

Enterprise:
o Key end markets remain challenging, in particular Oil & Gas
o On-going focus on commercial opportunities around "Internet of Things"

Berenberg comment:
"We remain concerned about the Maritime declines and believe the company will find it tougher to return to growth than consensus expects. Enterprise has been significantly impacted by competition and for now remains in a downward spiral. It is our view that the easy-wins (eg Boeing take-or-pay) are now in the past and tougher comparables over the coming quarters, particularly within Maritime and Government, could highlight an underlying trajectory of slower, less profitable growth. Our 2018 EBITDA forecast sits 5% below consensus. We downgrade to Sell.

While the company has done a good job in lowering 2017 expectations, in our view, consensus estimates remain too high for future periods and we expect these to trend down over the coming months. Visibility remains low and on our estimates, given the lack of near-term earnings growth, the stock will still be trading on a blended P/E (includes 66% of Ligado opportunity) above 20x well into the next decade. We believe there needs to be increased visibility or a marked improvement in underlying trends to warrant such a high multiple. Our new lower DCF-based 710p price target offers 14% downside and we thus downgrade our recommendation to Sell."

Citigroup today (08/05/17) reaffirms its neutral investment rating on Inmarsat PLC (LON:ISAT) and set its price target at 770p

StockMarketWire.com
Inmarsat confirmed the successful launch of the fourth, high-speed broadband communications satellite in its transformational Global Xpress (GX) constellation.

The company said Inmarsat GX is the world's first globally available, broadband connectivity service. It was created to enable communities across the world to benefit from the emerging digital society.

Inmarsat-5 F4 (I-5 F4) was launched by SpaceX on a Falcon 9 rocket from the historic launch pad 39A at NASA's Kennedy Space Center in Florida.

Following satellite separation, the company acquired telemetry from its Perth ground station.

The launch team from Inmarsat and Boeing Network & Space Systems, the manufacturer of I-5 F4, were raising the spacecraft to a geostationary orbit, at which point the satellite will deploy its solar arrays and reflectors, and undergo payload testing.

I-5 F4 joined the three GX satellites already in orbit. Since December 2015, these delivered unprecedented service speeds, global coverage, reliability and security to users on land, at sea and in the air.

The fourth satellite added further capacity to the GX network and in-orbit redundancy that further upgraded the reliability and resilience of Inmarsat's service offerings.

StockMarketWire.com
Global mobile satellite communications provider Inmarsat has awarded a contact for an additional Global Xpress satellite and revealed Qatar Airways had become the first Middle East megacarrier to select the new GX Aviation in-flight broadband solution.

Inmarsat said it had awarded the new GX satellite contract to Thales Alenia Space.

Inmarsat said the award reflected its strategy of adding capacity to its already established, unique, high-speed global broadband network in areas of high customer demand and against new customer commitments.

It said the satellite, which was targeted for launch in 2019, would be a Very High Throughput Satellite (V-HTS), providing capacity across the Middle East, Europe and the Indian subcontinent.

The payload would seamlessly become part of Inmarsat's existing GX high-speed global broadband network.

Inmarsat also announced that Qatar Airways had become the first Middle East megacarrier to select the group's advanced new GX Aviation in-flight broadband solution. Inmarsat said the next-generation service would initially be available to Qatar Airways passengers on board more than 130 aircraft, consisting of Airbus A350s and Boeing 777s.

It said GX Aviation technology had already been equipped on Qatar Airways' latest Airbus A350s and installations on the airline's remaining Airbus A350s, together with the Boeing 777s, would commence on a retrofit basis from this summer.

Inmarsat Aviation president Leo Mondale said: "Qatar Airways is one of the world's most successful, fastest growing and in-demand airlines, with an unwavering focus on providing the best service possible.

"It has offered Inmarsat's SwiftBroadband connectivity solution for over five years now. However, with our next generation GX Aviation service now live, its upgrade to true broadband on more than 130 aircraft initially will ensure passengers have access to consistent, reliable and high-speed connectivity wherever they fly.

"Qatar Airways considered all available options in the connectivity market and selected Inmarsat due to our unique infrastructure, proven aerospace partners, and committed long-term development strategy.

"Broadband transformation on the ground is already well advanced and we are able to transfer that into the very challenging in-flight environment, working with Qatar Airways to make connectivity a success.

"Our networks are engineered with multiple layers for redundancy and global coverage. Our design philosophy is to scale up capacity over time to fit the route systems of our airline customers and reflect the industry's real needs."

StockMarketWire.com
Inmarsat has won a 10-year contract to provide its GX Aviation service to Avianca.

Inmarsat said Avianca was the first Latin American airline group to adopt the GX Aviation service which would initially be made available to passengers on approximately 125 Avianca Airbus A320, A330 and Boeing 787 aircraft, with the potential for additional aircraft to be provisioned at a later date.

Inmarsat said Avianca's GX-equipped aircraft were currently expected to be rolled out starting at the end of the year.

The value of the contract was not disclosed.

StockMarketWire.com
Inmarsat's revenues rose to $688.2m inthe six months to the end of June - 9.4% up on last time despite still challenging markets.

EBITDA increased by 2% to $376.5m and the group has declared an interim dividend of 21.62 cents per share - up 5%.

Chief executive Rupert Pearce said: "With our on-going focus on operational execution, Inmarsat has continued to move forward in 2017, building on a strong performance towards the end of last year, despite on-going challenging markets.

"In the Maritime market, Fleet Xpress is rapidly becoming a compelling product for our customers, establishing itself with fast-growing revenues from both our direct sales channel and through our distribution partners.

"During this period, we have added more key distributors, which has increased the number of committed ships to Fleet Xpress to over 10,000, and driven the pace of net installations to 266 ships per quarter during the first half (compared to an average of 136 VSAT ship additions per quarter during 2016).

"The expected future escalation in take-up of Fleet Xpress provides our Maritime business with a strong foundation for future growth. FleetBroadband remains a solid performer, despite the expected continued ARPU-accretive migration of customers to Fleet Xpress, and we continue to see further market development opportunities, for example from our recently launched Fleet One product in the sizeable, and largely untapped, small vessel market.

"Our Government business continued to outperform against the competition. In the US, our partnership with Boeing continued to deliver material GX revenues. We also saw new contributions both from the CSSC contract, which we won last year, and a number of other confidential new contracts, one of which materially impacted the second quarter.

"Our successful participation in the FirstNet contract award, announced during the period, is another positive sign of our growing presence in the US market, but the contract will have no impact on our 2017 results. Outside the US, with the benefit of higher operational tempo, and further contract wins, we have sustained our business despite tough markets.

"Our core Aviation business (Business and General Aviation and Safety and Operational Services) delivered further solid growth over both quarters, with both ARPU and customer numbers rising.

"We continue to put in place the foundations for further growth, having achieved line-fit certification with all four of the leading manufacturers of business jets and installed 64 terminals for JetConneX, our GX product for BGA, by the end of the period.

"In IFC, we signed further contracts for GX connectivity services during the period, in particular with Qatar Airways in the Middle East and Avianca in Latin America and now have over 1,200 aircraft expected under signed IFC contracts.

"Discussions continue with many other airlines, whose fleets' aggregate connectivity requirements are of around 3,000 aircraft.

"The installation programme with Deutsche Lufthansa Group continues, bringing the number of installations to 101 aircraft, up from 65 at the end of the first quarter.

"Whilst revenue in our legacy Enterprise business declined in H1 2017, it remains a business area with strong medium to long term growth potential, both in the Energy segment with GX and, with next generation L-band services, in the emerging "Internet of Things" markets, such as transportation, e-logistics, agriculture, smart cities and mining & construction.

"In the first half we successfully delivered two important satellite launches. In May, a 4th GX satellite, Inmarsat-5 F4, was launched to provide in-orbit redundancy and additional capacity for our global GX network.

"Then, in June, the Inmarsat-S EAN satellite was launched to provide one of the foundations of the European Aviation Network, which remains on track to be commercially deployed towards the end of this year.

"Following the award to Inmarsat of the Qatar Airways IFC contract, we also announced the design and build of our 5th GX satellite, which is expected to be launched during 2019, to enhance and supplement our existing global network.

"We have also continued to build out the ground infrastructure and operational capability to support both GX and our evolving businesses.

"We are investing in our organisational infrastructure, cyber capabilities and our IT systems and processes to ensure that we have the sound foundations to support our demanding growth agenda.

"Our robust performance in the first half of 2017 validates Inmarsat's powerful position as the leading operator in global mobility markets, our operational and commercial strength, the uniqueness of our connectivity offerings and our continued success in commercialising our technology to service the requirements of our customers.

"We will continue to build on these strong foundations, supported by further investment into our organisational capabilities, using GX and the EAN to drive into new satellite broadband markets and to reposition our core L-band network for next generation opportunities."

StockMarketWire.com
Inmarsat's revenues rose by 4.8% to $358.3m in the third quarter and by 7.8% to 1,046.5m for the first nine months.

Third quarter maritime revenues were unchanged year-on-year but increased sequentially reflecting 26% increase in VSAT revenues but lower FleetBroadband and legacy product revenues.

Government revenues grew 4%, mainly reflecting stronger US results and aviation revenues were up 50% with growth in both Core business and IFC installation activity.

Inmarsat said Air Asia's selection of GX confirmed in Q3, bringing aircraft expected under signed IFC contracts to 1,300.

It said Enterprise returned to growth, driven by higher airtime usage and terminal sales following recent hurricanes.

GX airtime and related revenues, across the business units, was $42.3m (YTD: $102.1m).

EBITDA of $191.3m was down 6.5%. Inmarsat said the favourable impact of higher revenues more than offset by changes in revenue mix, particularly in Aviation, by further investment in IFC market capture and delivery, and by higher central operational delivery costs.

Looking ahead, it said: 'The progress being made in Maritime, Government and Aviation provides confidence about the medium to long term outlook for Inmarsat.

'However, our markets remain challenging and the outlook continues to be difficult to predict.

' Inmarsat's performance in 2017 and 2018 will continue to be particularly determined by our results in IFC and in Government, as we outlined in March 2017.'

divi not covered enough, low or static rev growth = s/p fall full results. the big
boys have scarperd. 450 p low ? BB

StockMarketWire.com
Inmarsat has noted an announcement made by its partner Thales today, confirming that Emirates intends to install Inmarsat's GX Aviation high-speed inflight broadband service on its Boeing 777X aircraft fleet.

The new agreement is part of plans by Emirates and Thales to develop state-of-the-art inflight entertainment and connectivity (IFEC) on the airline's new Boeing 777X fleet.

Emirates has 150 Boeing 777X aircraft on firm order, with deliveries currently scheduled from 2020.

HSBC today reaffirms its hold investment rating on Inmarsat PLC (LON:ISAT) and cut its price target to 570p (from 720p).

Berenberg today reaffirms its hold investment rating on Inmarsat PLC (LON:ISAT) and cut its price target to 600p (from 640p).

Credit Suisse today reaffirms its outperform investment rating on Inmarsat PLC (LON:ISAT) and cut its price target to 810p (from 890p)

Barclays Capital today upgrades its investment rating on Inmarsat PLC (LON:ISAT) to equal weight (from underweight) and cut its price target to 600p (from 695p)

HSBC comment today:
"Most of Inmarsat’s revenues, costs and capex are recorded in USD, except c20% of opexgenerated in the UK. The recent strength of the GBP against the USD (up 5% since mid-November) has impacted EBITDAbut this is offset bychanges in D&Aand net financial charges. This has an overall positive impact of 5% on our EPS for 2017e and no change for 2018e. Our lower GBP target price is more directlydue to USD weakness (c-5% hit through the conversion) and also a roll-over effect (balance sheet starting point becomes end-2017). Overall our new target price is 530p, down from 570p.
Because of the high level of capex and inflated opex, Inmarsat’s dividend in cash is not covered. It could, however, remain at recent levels if management can demonstrate its confidence in the outlook. We believe a scrip dividend without cash would be artificial but is an option to consider, although it has not said anything on this . A cut is another, even though it would not please investors. If Ligado, the 5G project in the US that pays USD125m pa for ISAT’s spectrum, was to consider a suspension of its payments to Inmarsat, we believe Inmarsat would have no other option than to drastically cut the cash dividend (we currently assume stability for the coming years).We would also consider cutting our TP by 100p per share in this scenario. Considering all these risks, we maintain our Hold rating. An update is expected on 9 March (FY17 release)."

Morgan Stanley today reaffirms its equal weight investment rating on Inmarsat PLC (LON:ISAT) and cut its price target to 550p (from 620p).

StockMarketWire.com
Inmarsat reported group revenue in 2017 rose by 5.4% to $1.40bn from $1.33bn but earnings fell 8% to $731.5m from $795m the year before.

The company said it would pay a final dividend of 12 cents per share, after reducing annual dividend to 20 cents per share, giving total dividend of 33.62 cents per share. The lower dividend comes as the company said it requires sufficient financial resources to investment in the IFC segment in aviation. The lack of visibility over future cash payments from Ligado Networks beyond the end of 2018 was also cited as a headwind.

Revenues of the group's largest division, maritime, fell 1.8% to $564.7m but its government (the firm's second largest business unit) and aviation (fourth largest) arms reported improved performance, up 11% and 36.7% respectively.

Profit after tax fell 25.1% to $182.3m from $243m. Rupert Pearce, Chief Executive Officer, said: 'Inmarsat delivered further operational and strategic progress in 2017, comprising both gratifying near term revenue growth as well as several important strategic proof-points around exciting medium term growth opportunities, especially in IFC. 'Our investment in Global Xpress, our high bandwidth global mobile satellite network, is starting to show material returns, generating over $140m of revenue in the year. Our strategic investment in GX will enable us to retain and develop our competitive positions in Maritime and Government and will ensure that we are well placed to access the substantial opportunity in IFC in Aviation.' 'In Maritime, we made important strategic progress in securing the long term future for Fleet Xpress, with significant commitments signed with leading distribution partners. After a challenging year in 2016, which continued into Q1 2017, we delivered quarter-on-quarter growth throughout the year, and year-on-year revenue growth in the fourth quarter.' 'In Government, we delivered on our strategy to diversify our contracted revenue base and product base, supported by another excellent operational performance during the year. In Aviation, we further established our market position in IFC, through commercial momentum and strategic investment, and our Core business delivered double digit revenue growth throughout 2017.' 'In Enterprise, notwithstanding current challenges, we remain optimistic about the long term future demand for M2M connectivity in the emerging global internet of things ("IoT") market.' 'Given Inmarsat's track record, unique capabilities and differentiated market position, we are well placed to continue to grow our revenues in 2018 and beyond and to capture significant additional medium term growth opportunities available to us, particularly in in-flight connectivity.'

JP Morgan Cazenove today reaffirms its neutral investment rating on Inmarsat PLC (LON:ISAT) and cut its price target to 580p (from 690p).

RBC Capital Markets today reaffirms its outperform investment rating on Inmarsat PLC (LON:ISAT) and cut its price target to 725p (from 825p).

Deutsche Bank today reaffirms its buy investment rating on Inmarsat PLC (LON:ISAT) and cut its price target to 575p (from 850p).

Back to 2012 levels.

Think I may buy some of these for my ISA in April. Can't see them going bust and may be at an attractive price for a predator, though regulatory hurdles would probably scupper any bid.

Exane BNP Paribas today reaffirms its underperform investment rating on Inmarsat PLC (LON:ISAT) and cut its price target to 400p (from 610p).

HSBC today reaffirms its hold investment rating on Inmarsat PLC (LON:ISAT) and cut its price target to 365p (from 430p).

StockMarketWire.com
Satellite firm Inmarsat swung to a net profit in the first quarter of the year as revenue rose 5%, supported by growth from its aviation, enterprise and maritime divisions.

Net profit rose to $53.6m in the first quarter from a net loss of $5.6m the previous year. While, pre-tax profit rose to $56m from $1.3m.

Revenue rose 5% to $345.5m as revenue growth from the firm's maritime, aviation and enterprise divisions offset weaker revenue from its government division.

Inmarsat maintained its full-year guidance including annual capital expenditure of between $500m and $600m each year from 2018 to 2020. While 2018 revenue, excluding Ligado, was expected in the range of $1,300m to $1,500m.

HARRYCAT, I read recently that GB, after BREXIT is thinking about having its own GPS satellites, for positioning purposes. This would allow us to offer data for most of Europe with just three geo-stationary satellites ( but being stationary they might be vulnerable to military attack? )..... Any connection with Inmarsat, who have experience and at least one satellite up . . . . -or- do they "rent" space on someone else's?.
On "BBC-Click" some months ago, folks in California were experimenting with tiny satellites, about 100mm cube . . . presumably the idea being much lower launch-cost...... Cost of Electronics is going down...and...size/weight also.... Self-driving cars will need much more accurate data, than available . . . so these satellites might be placed over major cities, if small/cheap enough. Of course there could be very-local beacons also, so your car can drive into the garage. Some data will be in-car, camera-based I realise.... but cars need to up-load new data somewhere too.
Cheers.
Any Thoughts?

There is so much to ISAT that it's probably best you read their blurb.

https://www.inmarsat.com/about-us/

https://www.inmarsat.com/about-us/our-satellites/

I think that their primary use is for communication rather than GPS, as the comms side of things produces a constant revenue stream.
There are a few competitors out there, demonstrated by the plethora of space junk floating around, but ISAT seem to be pretty focused. Just a matter of staying a few steps ahead of the competition, which as you say, is probably trying to reduce the size and weight of the payload which is expensive to put into orbit. I don't think that ISAT have much input yet into the self driving car market.

StockMarketWire.com
Inmarsat said the UN's International Maritime Organisation had approved a new fleet safety product to be used by ship owners, but the announcement did little to arrest a steep fall in its share price.

The company's shares were hit by news late on Monday that the IMO had ended its monopoly on satellite services for the Global Maritime Distress and Safety System, or GMDSS.

A competitor, Iridium Communications, said that its mobile-satellite system had also been recognized by the IMO for GMDSS use. The IMO also approved a request by Chinese group BeiDou Navigation Satellite System for evaluation of its GMDSS proposal.

Inmarsat Martime president Ronald Spithout congratulated both companies for their successful applications.

'We look forward to welcoming them both as GMDSS service providers in the coming years,' he said.

'Together, we must strive to maintain and enhance the exceptionally high standards required by the IMO and demanded by the maritime industry as the lifeline for seafarers at sea.'

Inmarsat confirmed that its so-called Fleet Safety solution had formally been approved by the IMO as a new service to the support the GMDSS.

'Ship owners and operators will now be able to combine maritime safety and broadband data services in a single FleetBroadband or Fleet One terminal provided by Inmarsat,' the company said.

'Tens of thousands of vessels are already equipped with FleetBroadband or Fleet One, making the adoption of Fleet Safety simple and hassle free.'

The new service would be delivered over the existing Inmarsat-4 constellation and the new Inmarsat-6 satellites; the first of which is due for launch in 2020, the company said.

sp graph doesn't look good - this Ann. should be a boost - if it gives them a cost-free ( almost), extra-income stream..... from existing ships. Also it gives Owners another reason to use their services....YET the sp has fallen . . . . quite a lot this month and over several months even more. Could this be competition? -now that launching a satellite is relatively "easy" now that satellites are more-reliable and smaller - needing less power, etc, etc,.

RBC Capital Markets today reaffirms its outperform investment rating on Inmarsat PLC (LON:ISAT) and raised its price target to 850p (from 725p).

Statement regarding possible offer for Inmarsat plc by Echostar Corporation
The Board of Inmarsat plc ("Inmarsat" or "the Company") notes today's recent press speculation and movement in its share price and confirms that it received a highly preliminary and indicative non-binding proposal from Echostar Corporation in relation to the potential acquisition of the entire issued, and to be issued, share capital of Inmarsat (the "Proposal").

After carefully considering the Proposal with its advisers the Board rejected the Proposal on the basis that it very significantly undervalued Inmarsat and its standalone prospects. The Board remains highly confident in the independent strategy and prospects of Inmarsat.

There can be no certainty either that any firm offer will be made or as to the terms on which any offer might be made. A further announcement will be made in due course as appropriate.

Numis comment:
"We do not advise shorting ISAT's stock but, unless the company's value prospects are better detailed than they have been hitherto, we think shareholders should reduce holdings if the share price climbs materially higher. This is because (i) we believe Echostar will not follow through, (ii) we doubt ISAT shareholders will get clarity over the likelihood and NPV of future Ligado cash soon enough, and (iii) we believe the threat from Iridium to ISAT's NPV will keep growing at pace. We made numerous small changes to our ISAT forecasts post 1Q FY18 results, so our Target Price inches back from 450p to 430p per share."

From Bloomberg - Dinesh Nair:
EchoStar Corp. is considering raising its offer for rival Inmarsat Plc after its initial approach for the British satellite company was rejected as being too low, according to people familiar with the matter.

EchoStar, founded by billionaire Charlie Ergen, is discussing financing for an improved offer in the coming days, said the people, who asked not to be identified because the plans are private. EchoStar is working with financial advisers on its bid, the people said. A final decision hasn’t been made, and the U.S. company may decide not to proceed with an offer, they said.

Representatives for EchoStar and Inmarsat declined to comment.

Inmarsat said June 8 it had turned down a “highly preliminary” offer from EchoStar after consulting its advisers. Inmarsat’s stock rose 28 percent over two trading days, but has still lost more than half is value since a peak at the end of 2015. That’s elevated the company to the top of analysts’ lists of potential targets for consolidation in the industry, where oversupply is pushing down margins as demand lags behind, spurring existing companies to consider their alternatives.

EchoStar has long been seen as a potential bidder for Inmarsat, along with SoftBank Group Corp.’s OneWeb. Inmarsat sees aviation services such as in-flight Wi-Fi as its biggest growth driver in the coming years and is also seeking to diversify into businesses like connected cars, after coping with a protracted slowdown in shipping."

StockMarketWire.com
Shares of Inmarsat slumped Tuesday after French satellite group Eutelsat Tuesday ruled out a bid for the company.

This comes less than 24 hours after Eutelsat confirmed it was considering a takeover bid for British rival Inmarsat.

StockMarketWire.com
Satellite company Inmarsat said Friday it had rejected a $3.2bn (£2.4bn) takeover bid from its American rival EchoStar.

Inmarst claimed the bid, pitched at 532p per share, significantly undervalued the company and its prospects.

Following the rejection, however, EchoStar reportedly said it would continue to pursue Inmarsat in the hope of landing a recommended offer.

Inmarsat plc statement re withdrawal of EchoStar
The Board of Inmarsat plc ("Inmarsat" or the "Company") notes today's further announcement by EchoStar Corporation ("EchoStar") that it does not intend to make an offer for Inmarsat.

The Board remains highly confident in the independent strategy and prospects of Inmarsat, given our track record, unique capabilities, differentiated market position and strong channels to market. Inmarsat will publish its interim year results for the period to 30 June 2018 on 2 August 2018 and will update the market on the Company's progress at that time.

Barclays Capital today reaffirms its equal weight investment rating on Inmarsat PLC (LON:ISAT) and raised its price target to 460p (from 420p).

StockMarketWire.com
Satellite firm Inmarsat swung to a net loss in the second quarter of the year but revenue rose 5%, supported by strong growth from its aviation division.

For the three months through 30 June, the company reported a net loss of $185.4m compared with a profit a year earlier and a 5% increase in revenue to £371.8m.

Revenue growth was led by strong performance in the company's aviation division which saw revenue jump 38.7% to $59.5m for the quarter.

The interim dividend of 8 cents per share was in line with the board's recently updated approach to dividend pay-outs.

The company, maintained its full-year guidance including annual capital expenditure of between $500m and $600m each year from 2018 to 2020. While 2018 revenue, excluding Ligado, was expected in the range of $1,300m to $1,500m.

RBC Capital Markets today downgrades its investment rating on Inmarsat PLC (LON:ISAT) to sector performer (from outperform) and cut its price target to 650p (from 725p).

StockMarketWire.com
Inmarsat and Panasonic Avionics Corporation struck a joint agreement Thursday, for an initial ten-year period, to offer broadband in-flight connectivity paired with 'high-value' solutions and services to passengers on commercial flights.

Under the terms of the agreement, Inmarsat would become Panasonic's exclusive provider of Ka-band IFC for commercial aviation.

This would allow Panasonic to offer Inmarsat's high-speed, broadband connectivity service, GX Aviation, powered by Global Xpress -- the world's first global Ka-band satellite network, owned and managed by a single operator, Inmarsat said.

The agreement would allow Inmarsat to offer Panasonic's portfolio of services and 'NEXT' solutions to Inmarsat's commercial aviation customers. This would include customer support services available from Panasonic's Customer Performance Center and Technical Services teams. 'IFC (in-flight connectivity) is a substantial and fast-emerging sector where the quality of customer experience is paramount. Reliable, high-quality IFC is no longer a luxury for passengers, but an expectation, and will play a vital role in securing an airline's competitive position in a market,' said Rupert Pearce, Chief Executive Officer, Inmarsat. 'Today's landmark announcement is clear evidence of Inmarsat delivering on its strategy and strengthens our conviction that, building upon the success of the global GX network, aviation will be a significant individual growth driver of our overall business. It also demonstrates Inmarsat's commitment to becoming the reference IFC network for airlines around the world'.

Notice of Third Quarter 2018 results
Inmarsat plc will report results for the 3 months ending 30 September 2018 on Thursday 8 November at 07.00 hrs BST.

Inmarsat management will host a conference call to discuss the results on that day. The call can be accessed via our website: www.inmarsat.com.

StockMarketWire.com
Satellite firm Inmarsat reported Thursday a modest increase in third-quarter revenues as strong growth from its aviation division was overshadowed by a sharp rise in investment costs.

For the three months through 30 September, revenue rose 3.7% to $369.3m and earnings (EBITDA) rose 6.8% to $206.5m.

Revenue growth was led by strong performance in the company's aviation division which saw revenue jump 34% to $68.2m for the quarter.

Performance was held back, somewhat, by a 55% jump in cash capex during the quarter, mainly reflecting investments in the GX5 and I-6 satellites.

Revenue and earnings (EBITDA) for the full-year were expected to be at least in line with current market consensus of $1,325m and $610m, respectively, the company said

'Inmarsat remains at the forefront of our chosen markets, leveraging the strength of our established market position, continuing to deliver an exciting technology roadmap and taking a highly disciplined approach to costs and capital expenditure,' said Rupert Pearce, Chief Executive Officer.

'As a result, the Group remains well placed to continue delivering medium-term growth in revenue, EBITDA, and free cash flow.'

Deutsche Bank today reaffirms its buy investment rating on Inmarsat PLC (LON:ISAT) and cut its price target to 575p (from 580p).

StockMarketWire.com
Satellite communications company Inmarsat said Wednesday it had signed a contract to provide inflight broadband to Indonesian national carrier Garuda.

Immarsat would work together with wireless technology provider Mahata Aero Teknologi, Lufthansa Technik and Lufthansa Systems to provide its inflight connectivity service GX Aviation.

The agreement marked an extension of Mahata's existing 10-year contract with low-cost carrier Citilink, also part of the Garuda Indonesia Group, for the inflight broadband solution.

The service went live on the first Citilink aircraft earlier this month and was scheduled to launch with Garuda later this year.

GX Aviation was the world's first and only global, high-speed inflight connectivity service delivered through a wholly-owned and operated network of high-throughput satellites, according to Immarsat. 'Asia Pacific has become one of our biggest markets for GX Aviation. The fact that Indonesia's national airline and low-cost carrier have both selected the service within months of each other is testament to GX Aviation's status as the global benchmark for inflight broadband,' said Philip Balaam, President of Inmarsat Aviation.

This one's a name from the past, do you hold Harry?

No, not at the moment, though always keep an eye on it as am interested in the technology as well as the price.