ORBCOMM Inc. has announced the Company's financial results for the third quarter ended September 30, 2008. Total Revenues for the quarter ended September 2008 were $8.0 million, an increase of 15.3 percent from the third quarter of 2007. Service Revenues for the third quarter increased 39.2 percent to $6.3 million from the comparable period of 2007. This was due primarily to an increase in higher revenue billable subscriber communicators, the inclusion of ORBCOMM Japan, and a slight contribution from the commencement of Automatic Identification System (AIS) revenue. Product Sales decreased in the third quarter by $0.7 million, or 30.8 percent, from the third quarter of 2007 due to a decline in purchases by a large VAR, offset partially by product sales made by ORBCOMM Japan. Operating loss for the quarter improved by 55.5 percent year-over-year, but a $1.2 million decline in interest income and $0.3 million of foreign exchange transaction loss led to the increase in net loss versus the same period in the prior year. At September 30, 2008, there were approximately 442,000 billable subscriber communicators, representing net additions of more than 21,000 in the third quarter, or an increase of 5.0 percent, over the Company’s base of billable subscriber communicators at June 30, 2008. In the third quarter of 2008, 69 percent of the net additions were attributable to installations by original equipment manufacturers (OEMs). To read the entire report, access this direct link.