Stratos Announces Second Quarter 2008 Results



    BETHESDA, MD, July 30 /CNW/ - 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.

    
                             Financial Highlights

           (in millions of U.S. dollars, except per share amounts)
    -------------------------------------------------------------------------
                                      Second quarter ended  Six months ended
                                                June 30           June 30
                                             2008     2007     2008     2007
    -------------------------------------------------------------------------
    Revenue                               $ 162.7  $ 149.9  $ 310.2  $ 294.5
    EBITDA(*)                             $  28.0  $  25.2  $  51.9  $  44.5
    Net earnings                          $   5.5  $   6.6  $   6.2  $   2.4
    Basic and diluted earnings per share  $  0.13  $  0.16  $  0.15  $  0.06
    -------------------------------------------------------------------------

    (*) EBITDA (a non-GAAP measure) is defined by the Corporation as earnings
        before interest expense, income taxes, other (income) costs,
        management long-term incentive expense, depreciation and
        amortization, non-controlling interest and equity in earnings of
        investee.
    

    The unaudited interim consolidated financial statements and management's
discussion and analysis of financial condition and results of operation are
available on SEDAR, www.sedar.com and the Corporation's website,
www.stratosglobal.com
    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.

    About Stratos

    Stratos is the world's trusted leader for vital communications. Stratos
offers the most powerful and extensive portfolio of remote communications
solutions including mobile and fixed satellite and microwave services. More
than 20,000 customers use Stratos products and industry-leading value added
services to optimize communication performance. Stratos serves U.S. and
international government, military, first responder, NGO, oil and gas,
industrial, maritime, aeronautical, enterprise, and media users on seven
continents and across the world's oceans. For more information visit
www.stratosglobal.com

    Caution Concerning Forward-Looking Statements

    Documents related to this release contain statements and information
about potential future circumstances and developments. Such statements and
information are qualified by the inherent risks and uncertainties surrounding
future expectations generally and may differ materially from Stratos Global
Corporation's actual future results. For additional information with respect
to these risks and uncertainties, reference should be made to the
Corporation's continuous disclosure materials filed with the Canadian
Securities Administrators. Stratos Global Corporation disclaims any intention
or obligation to update or revise any forward-looking statements or
information, whether as a result of new information, future events, or
otherwise.





For further information:

For further information: Investor Contact: Paula Sturge, FCA, Executive
Vice President & CFO, (709) 724-5227, paula.sturge@stratosglobal.com

Organization Profile

STRATOS GLOBAL CORPORATION

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890