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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): August 14, 2007
ORBCOMM Inc.
(Exact name of registrant as specified in its charter)
Delaware 001-33118 41-2118289
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
2115 Linwood Avenue, Suite 100
Fort Lee, New Jersey 07024
(Address of principal executive offices) (Zip code)
(201) 363-4900
(Registrant's telephone number, including area code)
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:
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
|_| 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 August 14, 2007, ORBCOMM Inc. (the "Company") released its earnings for the
second fiscal quarter of 2007 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. In addition, the Company will discuss its financial results during
a webcast and teleconference call Tuesday, August 14, 2007 at 10:30 a.m. (ET).
To access the webcast and teleconference call, go to the Company's website at
http://www.orbcomm.com.
The press release is attached herewith as Exhibit 99 and is incorporated herein
by reference.
EBITDA is defined as earnings 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 its 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 Company's 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 Company's management uses EBITDA in
presentations to the Company's 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 Company's annual operating budget.
The Company also believes that EBITDA less stock-based compensation expense
(Adjusted EBITDA) is useful to investors to evaluate the Company's core
operating results and financial performance because the exclusion of stock-based
compensation expense is useful, given the significant variation in expense that
can result from changes in the fair market value of the Company's common stock.
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.
99 Press Release of the Company dated August 14, 2007.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ORBCOMM Inc.
By /s/ Robert G. Costantini
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Name: Robert G. Costantini
Title: Executive Vice President and Chief
Financial Officer
Date: August 14, 2007
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EXHIBIT INDEX
Exhibit
Number Description of Exhibit
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99 Press Release of the Company dated August 14, 2007.
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