LONDON Aug 2 British satellite operator
Inmarsat reported a slight dip in second-quarter
earnings on Friday as the impact of U.S. defence spending cuts
continued to bite.
The company, which provides communications to shipping,
aircraft and remote locations worldwide, reported earnings
before interest, tax, depreciation and amortisation of $174
million, down from $176 million a year ago.
Sequestration in the United States has hit Inmarsat's
Solutions reseller unit, which saw revenues fall to $195.1
million in the quarter from $205.4 million a year ago.
However, revenue in its core maritime business rose by 3.7
percent to $195.9 million, helped by increased take-up and usage
of its broadband packages.
Chief Executive Rupert Pearce said that while the
contracting environment for Inmarsat's U.S. government business
remained challenging, revenue for its other business units grew,
and he was satisfied with the overall results.