ORBCOMM Inc. (NASDAQ:ORBC) is reporting third quarter earnings results on Wednesday 28th October 2020, before market open.
The consensus estimates from Thomson Reuters are loss of $ 0.09 per share.
For the full year, analysts predict revenues of $ 246.43 million, while looking forward to loss of $ 0.34 per share.
The Company Outlook
Revenue for 3Q20 are expected in a range of $ 59.00 million ~ $ 62.00 million
Full Year 2020 topline are forecasted in a range of$ 285.61 million ~ $ 293.77 million
Click Here For More Historical Outlooks Of ORBCOMM Inc.
Previous Quarter Performance
ORBCOMM Inc. posted loss for the second quarter of $ 0.09 per share, from the revenue of $ 56.73 million. The quarterly revenues contracted 15.45 percent compared with the same quarter last year. The consensus estimates are loss of $ 0.13 per share from $ 56.12 million in revenue. The bottom line results beat street analysts by $ 0.04 or 30.77 percent, at the same time, top line results outshined analysts by $ 0.61 million or 1.09 percent.
Stock Performance
Shares of ORBCOMM Inc. traded low $ -0.11 or -2.77 percent on Tuesday, reaching $ 3.86 with volume of 461.50 thousand shares. ORBCOMM Inc. has traded high as $ 3.97 and has cracked $ 3.83 on the downward trend
According to the previous trading day, closing price of $ 3.86, representing a 220.16 % increase from the 52 week low of $ 1.24 and a 17.98 % decrease over the 52 week high of $ 4.84.
The company has a market capital of $ 317.18 million and is part of the Communication Services sector and Telecom Services industry.
Conference Call
ORBCOMM Inc. will be hosting a conference call at 8:30 AM eastern time on 28th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.orbcomm.com
ORBCOMM Inc. provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, such as trailers, trucks, rail cars, sea containers, power generators, fluid tanks, marine vessels, diesel or electric powered generators, oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters in transportation and supply chain, heavy equipment, fixed asset monitoring, and maritime industries, as well as for governments.
