News Analysis

McLean, Va., July 28, 2020 – Iridium Communications Inc. (Nasdaq: IRDM) today reported financial results for the second quarter of 2020 and updated its full-year 2020 outlook. Net loss was US$ 12.4 million, or US$ 0.09 per diluted share, for the second quarter of 2020, as compared to net loss of $18.1 million, or $0.16 per diluted share, for the second quarter of 2019.

Thousand Oaks, Calif., July 22, 2020--Teledyne today reported second quarter 2020 net sales of US$7 43.3 million, compared with net sales of $782.0 million for the second quarter of 2019, a decrease of 4.9%. Net income was US$ 93.7 million ($2.48 diluted earnings per share) for the second quarter of 2020, compared with US$ 104.6 million ($2.80 diluted earnings per share) for the second quarter of 2019, a decrease of 10.4%.

Los Angeles, Calif., July  22, 2020--Global Eagle Entertainment today announced that it has agreed upon a definitive “stalking horse” asset purchase agreement under which substantially all of the company’s assets will be acquired for total consideration of $US 675 million by an entity established at the direction of holders of approximately 90% of the Company’s senior secured first-lien term loans. To facilitate the sale process, Global Eagle and certain of its U.S. subsidiaries have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. 

Ottawa, Canada, July 20, 2020 – C-COM Satellite Systems Inc. (TSXV: CMI, OTC: CYSNF),announced today financial results for the second quarter ended May 31, 2020. The company generated revenues of $1,061,665 and a net after tax loss of $466,930 or -1 cent per share. This compared with revenues of $2,566,595 and a net after tax profit of $267,342 or 1 cent per share for Q2, 2019 – representing a decrease of 59% and 275% respectively.

Wilmington, Del., July 15, 2020--Comtech Telecommunications Corp. (NASDAQ: CMTL) and its wholly owned subsidiary, Convoy Ltd. filed a complaint in the Delaware Court of Chancery against Gilat Satellite Networks Ltd. on July 7, 2020.  The complaint relates to the agreement and plan of merger dated January 29, 2020 between Gilat and Comtech providing for the acquisition of Gilat by Comtech and seeks a declaratory judgment that certain actions, if taken by Gilat, would breach Gilat’s obligations under the Merger Agreement.

New York City, NY, July 3, 2020--OneWeb announced today that it has entered into an agreement with a consortium led by the UK Government (through the UK Secretary of State for Business, Energy, and Industrial Strategy) and Bharti Global for the acquisition of the OneWeb business in connection with its court-supervised sale process.

by Virgil Labrador, Editor-in-Chief

Los Angeles, California, July 3, 2020--In the time of COVID-19 pandemic, when most activities are being conducted remotely, the effective and efficient management of satellite networks is more crucial than ever.

The July-August 2020 issue of  the Satellite Executive Briefing magazine focusing on Satellite Network Managment sponsored by Spacebridge is now available.  Featuring:

Satellite Network Management by Virgil Labrador

Satellites, Public Health and the End of the Non-Stick Fry Pan by Lou Zacharilla

The New Webinar Epoch? by Martin Jarrold

Better Satellite World Series: Making the Siberian Connection

PLUS Product and Services Spotlight, Mergers and Acquisitions, Executive Moves, Market Briefs, Vital Statistics, Satellite Markets 20 Stock Index and many more. Click here to read or download the file

by Lou Zacharilla

New York City, NY, July 2, 2020--Haven’t we been using banal reasons to justify space exploration (and by extension satellites) like non-stick frying pans?”  “Yes. Our nation has never had a philosophy of space exploration.”

New York City, NY, July 2, 2020--It is a vast land, making up three quarters of all Russia.  It is an empty land, where fewer than one in four Russians live.  Notorious for long, harsh winters but rich in gold and diamonds, oil and coal.