UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 9, 2010
ORBCOMM Inc.
(Exact name of registrant as specified in its charter)
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Delaware
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001-33118
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41-2118289 |
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.) |
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2115 Linwood Avenue, Suite 100
Fort Lee, New Jersey
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07024 |
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(Address of principal executive offices)
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(Zip Code) |
Registrants telephone number, including area code: (201) 363-4900
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02. Results of Operations and Financial Condition.
On
November 9, 2010, ORBCOMM Inc. (the Company)
released its earnings for the third fiscal
quarter of 2010 and is furnishing a copy of the earnings release to the Securities and Exchange
Commission under Item 2.02 of this Current Report on Form 8-K. The press release is attached
herewith as Exhibit 99 and is incorporated herein by reference. In addition, the Company will
discuss its financial results during a webcast and teleconference call Tuesday, November 9, 2010 at
10:30 a.m. (ET). To access the webcast and teleconference call, go to the Companys website at
www.orbcomm.com.
The information contained in Exhibit 99 shall not be deemed filed for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the Exchange Act), or incorporated by reference
in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be
expressly set forth by specific reference in such filing.
EBITDA is defined as earnings attributable to the Company before interest income (expense),
provision for income taxes and depreciation and amortization. The Company believes EBITDA is useful
to its management and investors in evaluating operating performance because it is one of the
primary measures used by the Company to evaluate the economic productivity of its operations,
including its ability to obtain and maintain its customers, its ability to operate its business
effectively, the efficiency of its employees and the profitability associated with their
performance. It also helps the Companys management and investors to meaningfully evaluate and
compare the results of its operations from period to period on a consistent basis by removing the
impact of its financing transactions and the depreciation and amortization impact of capital
investments from its operating results. In addition, the Companys management uses EBITDA in
presentations to the Companys board of directors to enable it to have the same measurement of
operating performance used by management and for planning purposes, including the preparation of
the Companys annual operating budget. The Company also believes that EBITDA, adjusted for
stock-based compensation expense, noncontrolling interests, and impairment charge (Adjusted
EBITDA), is useful to investors to evaluate the Companys core operating results and financial
performance and its capacity to fund capital expenditures, because it excludes items that are
significant non-cash expenses reflected in the condensed consolidated statements of operations.
EBITDA and Adjusted EBITDA are not performance measures calculated in accordance with accounting
principles generally accepted in the United States, or GAAP. While the Company considers EBITDA and
Adjusted EBITDA to be important measures of operating performance, they should be considered in
addition to, and not as a substitute for, or superior to, net loss or other measures of financial
performance prepared in accordance with GAAP and may be different than EBITDA and Adjusted EBITDA
measures presented by other companies.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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99
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Press Release of the Company dated November 9, 2010. |