A leader in remote communication and IT solutions, Speedcast serves more than 2000 customers across 140 countries. Louie Douvis. View Speedcast (www.speedcast.com) location in New South Wales, Australia , revenue, industry and description. Hanft is the legal go-to person for Speedcast Government and also provides occasional support to the parent company Speedcast International. “SpeedCast management have proven themselves incapable of integrating acquisitions and managing the balance sheet appropriately," said a large investor in the company who declined to be named. In 2015, SpeedCast built the foundation of its energy business by establishing a Houston-based team and acquiring Hermes Datacomms. The company’s debt as of June 30 was $429.5 million, an increase of $42 million from 2017 due to the UltiSat purchase and debt refinancing costs. SIA offices and its staff are located in Washington, D.C. It operates in two segments, Speedcast Government and Speedcast Non-Government. Retail revenues for the Government sector are expected to reach USD 9.3 billion by 2025, up from the current market size of USD 4.8 billion (Source:NSR - News). Based on the performance year to date and revised expectations for 1H 2019, Speedcast currently expects Underlying EBITDA for full year 2019 of approximately US$140 million to US$150 million. Revenues of US$14.1M and EBITDA of US$2.4M are included in the Speedcast Full Year 2017 results Excluding UltiSat, Speedcast delivered US$500M in revenues and US$120.2M in EBITDA Final dividend of AU4.80cts per share, bringing 2017 total dividend to AU7.20cts per share, a 75% year-on-year increase in the overall dividend payment "The addition of Speedcast Government is a great growth opportunity for the global Speedcast organization," says Pierre-Jean Beylier, Speedcast CEO. Register to keep up to date with investor relations announcements and news. The Government division was newly formed after the acquisition of UltiSat on 1 November, 2017 and in 2018 delivered 16% revenue growth, driven by increased U.S. government … Investors have concerns about the leadership of satellite communications business SpeedCast International after a shock profit downgrade wiped $340 million off its value on Tuesday. update regarding the company’s expectations for 1H 2019 and FY 2019 underlying earnings before interest SpeedCast’s maritime business unit delivered 69 percent revenue growth year over year. “Horizontal consolidation in the maritime industry has been driven by the overcrowded market and the fallout from the oil downturn of several years ago, both of which have pressured industry revenue,” Louie DiPalma, an equity analyst at William Blair, wrote in an Aug. 28 research note. The Harris CapRock merger exceeded projected savings by $6 million, Speedcast said. Some investors had bet on the company performing poorly, with SpeedCast being one of the most shorted stocks on the ASX when the announcement was released. WASHINGTON — Satellite communications provider Speedcast is purchasing Globecomm for $135 million in cash and debt, further expanding the company’s presence in the defense market. More than 350 employees work for Globecomm across 10 countries including the U.S., China and South Africa. “It’s potentially a bigger problem in that the causes were from a number of divisions in the business, which may indicate underlying operational issues.”. The company said this was "due to delays in government systems integration projects, lower revenue in maritime as a result of higher churn, and delayed new business wins". The company provides managed information services, including cybersecurity, ... Revenue Revenue Estimate. This will double Speedcast's revenue in Government, and add more scale, visibility and capabilities in this strategic growth market. Speedcast remains excited about the growth potential in the Globecomm business post integration as market fundamentals continue to be strong in Government and Maritime, and the company is pursuing attractive revenue synergy opportunities in various markets, including but not limited to IOT, media, cellular services, and Government. It generated $722 million in revenue in 2019, but posted net losses totaling about $460 million, Healy said. Having generated $305 million in revenue for the first half of 2018, Speedcast is now targeting $1 billion in annual revenue by mid-2021. Chief executive PJ Beylier and chief financial officer Clive Cuthell provided some additional detail to investors and analysts on what they had outlined in the company's release to the market on a conference call on Tuesday morning. Sydney, Australia, April 22, 2019 — Speedcast International (ASX:SDA) (FRA:7SC) (OTCMKTS:SPPDF) revenue grew 21% to US$623.1 million, including US$7.5 million contribution from two acquisitions completed in 2018 and the full year impact of acquisitions completed in 2017. - Speedcast's services and commitment to excellence is also being recognized by industry authorities. In 2018, Speedcast achieved strong organic growth across three of its divisions (Maritime, Government, and Enterprise and Emerging Markets (EEM)), however Energy division revenue continued to decline due to ongoing delays in the offshore Energy market recovery. 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Management needs to go, and the board must conduct a strategic review with a bias to selling the business.”. SpeedCast has invested 9 companies and its latest investment was Globecomm Systems, Inc. in Aug 2018. The company announced to the market on Tuesday morning that its 2019 full year earnings before interest, tax and depreciation was expected to be between $200 million and $215 million, compared to previous expectations from the company's annual general meeting in May of $229 million to $245 million. Speedcast was founded in September 1999 (it became Speedcast Ltd. in 2010). This is the SpeedCast company profile. Speedcast anticipates saving $15 million in annual operating costs within 18 months of closing the Globecomm acquisition. Globecomm's underlying EBITDA contribution was revised to $30 million for the 2019 full year, $7.2 million less than anticipated. Preventing Fraud and Getting Government Payments Right the First Time. In 2018, Speedcast achieved strong organic growth across three of its divisions (Maritime, Government, and Enterprise and Emerging Markets (EEM)), however Energy division revenue … The announcement sent the share price plummeting 40.8 per cent to close at $2.06. A further problem for SpeedCast was its acquisition of Globecomm, a remote communications provider it bought at the end of 2018, which finalised in December. It operates in two segments, Speedcast Government and Speedcast Non-Government. Thanks to UltiSat, Speedcast’s government revenue went from zero to 16 percent of sales in one year. Government division revenue from the Ultisat acquisition was US$47 million during the period. Find related and similar companies as well as employees by title and much more. Satellite links to oil and gas sites (25 percent) and businesses in emerging markets (24 percent) comprise the remainder of Speedcast revenue today. The acquisition, which is expected to close in Q4 2018, strengthens Speedcast's global position in Government, Maritime and Enterprise and it strongly complements last year's acquisition of UltiSat. Having generated $305 million in revenue for the first half of 2018, Speedcast is now targeting $1 billion in annual revenue by mid-2021. SIA was formed in 1995 and is a 501(c)(6) trade association that represents the unified voice for the U.S. commercial satellite industry. “This acquisition of Globecomm is fully in line with our strategy to consolidate our industry and thus build competitive advantages based on scale and capabilities,” Beylier said in an Aug. 28 statement. Speedcast Energy revenues stabilised during 2017 as Energy companies continued to rely on Speedcast’s communication solutions for their sites that remain in Want to be alerted the moment a new announcement is made? Find company research, competitor information, contact details & financial data for Speedcast Communications, Inc. of Houston, TX. Speedcast has launched a variety of satellite telecommunications services to customers. With capacity leases on more than 70 satellites, Speedcast bills itself as the “largest independent buyer of satellite capacity and service provider globally.” Speedcast said its size when combined with Globecomm will position the company to win larger, more complex defense contracts than before. ... Revenue in USD. This acquisition will give Speedcast its fourth growth pillar, Government. “When companies come out with a new forecast that’s materially different to the old one – which they were also presumably confident in – relatively soon after reiterating it, the market is likely to take it with a grain of salt.". Globecomm of Hauppauge, New York, is the 16th acquisition executed by Speedcast CEO Pierre-Jean Beylier since 2004, and follows last year’s purchase of UltiSat, which marked Speedcast’s entrance into government services. Energy sector revenue grew 251 percent in 2015 year over year. Speedcast significantly expanded its maritime footprint through its 2017 purchase of Harris CapRock for $425 million, and continued a trend among companies that provide satellite connectivity to ships. GAITHERSBURG, Md., Jan. 30, 2020 -- Speedcast Government is supporting a UN Agency and an independent national electoral committee in Niger, Africa in their mission to ensure. While Lou Dobbs remains under contract at Rupert Murdoch’s Fox News, he will in all likelihood not appear on the company’s networks again. Annual Revenue2020. The court ruling could pave the way for Russia’s largest environmental penalty, and the fine may also weigh on MMC Norilsk Nickel’s dividend prospects. Speedcast said the transaction, expected to close by year’s end, doubles its revenue from government customers and further consolidates the maritime communications market. According to the court filing, Speedcast serves approximately 2,644 vessels with the Inmarsat Services, comprising approximately 36% of revenue in its Commercial Maritime vertical.In 2019, Speedcast made $41.3 million in revenue, $7.1 million in profit from reselling these Inmarsat services. The company employs about 1,500 people, operates globally, and is administered from its head office in Botany, New South Wales. SpeedCast International Limited is a locally-owned publicly listed company, deriving revenue from the provision of remote communications and IT services. The company is listed on the ASX under the code SDA. The company said this was "due to delays in government systems integration projects, lower revenue in maritime as a result of higher churn, and delayed new business wins". With Globecomm, that figure grows to 22 percent, Speedcast said. Mr Macnab said although management was confident in its new forecasts, downgrades were never a good look. The past three years have seen four other major maritime acquisitions: Panasonic Avionics bought ITC Global, Global Eagle Entertainment bought EMC and Marlink bought Telemar and OmniAccess. Maritime would remain the largest chunk of Speedcast revenue, comprising 33 percent of revenue post-Globecomm acquisition from 35 percent today. The S&P 500 rose for a fifth straight session in its longest streak of gains since August, as investors looked through weak January jobs data. Speedcast Government, as its name implies, contracts for services with civilian and defense government agencies, both in the U.S. and for foreign governments and non-governmental agencies. These are all the companies that SpeedCast has invested in. Speedcast is financing the purchase by raising its borrowing amount from $425 million to $600 million on a credit facility that is not due until 2025. Such consolidation is “very synergistic” for maritime satellite service providers because of redundancies in network infrastructure and operating expenses, he wrote. revenue grew 27% primarily as a result of Phase 1 of the National Broadband Network (NBN) project in Australia. In 1H 2017 Speedcast has been awarded industry recognitions including: SpeedCast attributed the downgrade to weaker performances in enterprise and emerging markets, particularly in the first half of 2019, technical difficulties in one of its contracts, contract churn and delays to expected revenue in a project. The company provides managed information services, including cybersecurity, crew welfare, content solutions, data and voice applications, IoT solutions, and network systems integration services. Globecomm is a provider of remote communications and multi-network infrastructure solutions for government… Speedcast expect earnings before interest, tax, depreciation and amortisation (EBITDA) … Next SpaceX commercial crew mission to launch in April, China’s iSpace suffers failure with second orbital launch attempt, SpaceX violated launch license in Starship SN8 launch. The company operates across four segments: maritime, enterprise and emerging markets (EEM), government and energy.Last week, Speedcast provided a downgrade to its earnings expectations for both the half- and full-year. About Speedcast International Ltd. Speedcast International Ltd (ASX: SDA) is the world’s most trusted communications and IT services provider, delivering critical communications solutions to the Maritime, Energy, Mining, Media, Telecom, Cruise, NGO, Government, and Enterprise sectors. Speedcast’s previously communicated expectation for Underlying EBITDA for full year 2019 was US$160 million to US$171 million. Speedcast issues regular reports, announcements and press releases so that investors can keep up to date on our latest technology advancements, strategic partnerships and financial information. in January 2017, Speedcast now provides service to approximately 70% of cruise passengers around the world, serving the two top global cruise fleets in addition to several smaller fleets. Some 50 percent of Globecomm’s revenue comes from government services, with the rest split 25 percent maritime and 25 percent among various other communications service such as television broadcasting. Baillieu senior equities analyst Luke Macnab said the result was "obviously disappointing and a bit of a surprise given they reiterated guidance at their AGM in late May”. - Government: Total revenue was up 69.3% to $80.4 million (H1 2018: $47.5 million) driven by the contribution from Globecomm, with underlying organic revenue flat. AsiaSat became a primary shareholder in Speedcast in March 2000. “Globecomm is particularly complementary to UltiSat as it strengthens Speedcast’s position serving Government customers at a time when government spending globally is expected to rise.”. Almost two-thirds of Americans are open to being vaccinated against COVID-19, though the death toll is forecast to reach more than 600,000 by June 1. "The strategy of acquisitive growth has failed. Full year 2019. Revenue: Less than $1 million (USD) ... Glassdoor gives you an inside look at what it's like to work at SpeedCast, including salaries, reviews, office photos, and more. 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