RESTON, Va.-American Mobile Satellite Corp. announced revenues for the first quarter ended March 31 of $20.2 million, a more than 100-percent increase from the $10 million in revenues reported for first-quarter 1998.
The company reported a net loss of $39.6 million, or $1.23 per share, compared with a net loss of $25.2 million, or $1 per share, for the same time the previous year.
“This first quarter represents the final quarter before the key initiatives we have been working on during the past 12 months begin to take effect. In the second and third quarters of this year, we will begin to realize the initial growth from our recently introduced eLink two-way messaging solution, the accelerating UPS rollout, as well as the initial impact of our relationship with SkyTel Communications Inc.,” said Walter V. Purnell Jr., president and chief executive officer of the satellite carrier.
