ROCHELLE PARK, N.J. (AP) _ Orbcomm Inc. (ORBC) on Thursday reported a loss of $7 million in its first quarter.
On a per-share basis, the Rochelle Park, New Jersey-based company said it had a loss of 9 cents.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The satellite communications company posted revenue of $66.2 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $66 million.
The company's shares closed at $2.85. A year ago, they were trading at $7.56.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORBC at https://www.zacks.com/ap/ORBC
Automated Insights, source Associated Press News