July 29, 2008
ORBCOMM Appoints Vice President – Business Development and Investor Relations
ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company focused on two-way Machine-to-Machine (M2M) communications, today announced that Lucas Binder has been named Vice President - Business Development and Investor Relations.
Binder's primary responsibility will be developing new business opportunities and evaluating ORBCOMM's competitive landscape. Binder will also work on stock valuation and analyst research coverage, as well as oversee investor communications strategies, including financial communications involving news releases, quarterly earnings calls, shareholder presentations and investor marketing materials.Most recently Binder worked as an Equity Research Analyst for UBS Securities in New York, where he was responsible for primary research coverage of over a dozen publicly traded companies in the satellite and media sectors, including ORBCOMM. He performed company valuation analysis, authored equity research reports and built financial models to forecast financial performance of companies that he covered.
Previously, Binder worked as a buy-side analyst at Glickenhaus & Co. in New York, NY, and before that he worked as an analyst at Avalon Research Group in Boca Raton, Fl.
Binder graduated with a bachelor's of arts degree in Economics from the University of Rochester, as well as an MBA, from the William E. Simon School of Business Administration at the University of Rochester.
About ORBCOMM Inc.
ORBCOMM is a leading global satellite data communications company, focused on Machine-to-Machine (M2M) communications. Its customers include General Electric, Caterpillar Inc., Volvo Group and Komatsu Ltd. among other industry leaders. By means of a global network of 29 low-earth orbit (LEO) satellites and accompanying ground infrastructure, ORBCOMM's low-cost and reliable two-way data communications products and services track, monitor and control mobile and fixed assets in four core markets: commercial transportation; heavy equipment; industrial fixed assets; and marine/homeland security. The Company's products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. ORBCOMM is headquartered in Fort Lee, New Jersey and has a network control center in Dulles, Virginia. For more information, visit www.orbcomm.com.
Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future operations and are based upon management's current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Our actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the substantial losses we have incurred and expect to continue to incur; demand for and market acceptance of our products and services and the applications developed by our resellers; loss or decline in business from the Asset Intelligence division of General Electric Company ("GE"), value-added resellers, or VARs, and international value-added resellers, or IVARs; technological changes; pricing pressures and other competitive factors; the inability of our international resellers to develop markets outside the United States; satellite launch failures, satellite launch and construction delays and cost overruns and in-orbit satellite failures or reduced performance; the failure to launch the Coast Guard demonstration satellite by the definitive launch date; the failure of our system or reductions in levels of service due to technological malfunctions or deficiencies or other events; our inability to renew or expand our satellite constellation; financial market conditions and the results of financing efforts; political, legal regulatory, governmental, administrative and economic conditions and developments in the United States and other countries and territories in which we operate; changes in our business strategy; and the other risks described in our filings with the Securities and Exchange Commission. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.