Inmarsat Declines After Saying Voice Sales Hurt by E-Mail
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Inmarsat Plc, the biggest provider of satellite services to the maritime industry, fell the most since its June 2005 public offering after saying fourth-quarter voice revenue was hurt as seamen used cheaper e-mail rather than phone services.
Fourth-quarter marine voice-services sales declined 3.9 percent to $24.7 million, the London-based company said today in a statement. Full-year profit rose 71 percent as earthquakes in Haiti and Chile boosted demand, Inmarsat said.