PARIS — Mobile satellite services provider Inmarsat on May 4 reported a 25 percent increase in its government business, mainly the result of its take-or-pay contract with Boeing for Inmarsat’s Global Xpress (GX) service to the U.S. military.
Inmarsat said its government division revenue for the three months ending March 31 was $86 million, with an EBITDA margin of 74.8 percent versus 70.9 percent a year ago.
Boeing committed to paying Inmarsat a fixed sum over a five-year period in return for being given exclusive rights to sell GX’s Ka-band . . .
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