Inmarsat revenue up on strong industrial and government markets

LONDON (Reuters) - Satellite communications company Inmarsat (ISA.L) posted a better-than-expected 14 percent rise in second-quarter revenue to $163.7 million (83.7 million pounds), thanks to the resilience of its industrial and governmental markets.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 12.6 percent to $114 million, and pretax profit was up 30.1 percent at $51.5 million.

Analysts were expecting second-quarter revenue of $154.1 million and EBITDA of $107.9 million, according to a forecast supplied by the company.

The company, which last month received a preliminary approach from U.S. hedge fund Harbinger, is paying an interim dividend of 12.13 cents, up 5 percent.

Harbinger and its SkyTerra (SKYT.OB) Communications business later said they intended to make an offer for Inmarsat if they received regulatory approval.

Chairman and Chief Executive Officer Andrew Sukawaty said management remained confident of the outlook for the second half of 2008.

Second-quarter maritime revenue increased 4.5 percent, the company said, and strong take-up of its BGAN broadband service pushed land mobile revenue up 15.3 percent.

Natural disasters in China and Burma contributed $0.7 million in voice and data revenues in the quarter, it said.

Aeronautical revenue grew 46 percent, mainly due to increased use of its Swift 64 service by government aircraft and business jets, it said, while leasing revenue was up 22 percent.

(Reporting by Paul Sandle, editing by Will Waterman)