Stratos Global Corporation, the world's trusted leader in delivering vital voice, data and IP communication services today announced financial results for the second quarter ended June 30, 2008.
For the second quarter and six months ended June 30, 2008, the Corporation achieved revenue of US$162.7 million and US$310.2 million, respectively, 9 percent and 5 percent increases compared with US$149.9 million and US$294.5 million, respectively, in the same periods in 2007.
EBITDA for the second quarter and six months ended June 30, 2008 increased by 11 percent and 17 percent, respectively, to US$28.0 million and US$51.9 million compared with US$25.2 million and US$44.5 million for the same periods in 2007. The significant improvement in EBITDA for both periods was driven by the increased revenue and cost reductions resulting from the integration of Xantic and other initiatives to improve operating efficiencies.
Net earnings for the second quarter and six months ended June 30, 2008 were US$5.5 million, or US$0.13 per share, and US$6.2 million, or US$0.15 per share, respectively, compared with net earnings of US$6.6 million, or US$0.16 per share and US$2.4 million, or US$0.06 per share, respectively, during the same periods in 2007. The net earnings for the second quarter and six months ended June 30, 2007 included a gain from insurance settlements related to hurricanes Katrina and Rita of $6.2 million.
Cash flow from operations (including working capital changes) in the second quarter and six months ended June 30, 2008 totaled US$17.4 million and US$22.4 million, respectively, compared with US$17.0 million and US$22.5 million, respectively, generated during the same periods in 2007. -- www.cnxmarketlink.com
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