Avanti's Shares Fall after Company Posts $25 Million Operating Loss

摘要

Startup satellite broadband operator Avanti Communications on Oct. 10 reported sharply higher revenue, but also a higher operating loss, for the year ending June 30, the first full year of operations of the company's Hylas 1 Ka-band satellite. London-based Avanti said the results are in line with what it expected, and that the backlog of orders for Hylas 1 and the just-launched Hylas 2 satellite suggests that both will be filled by 2016. Shares of Avanti stock, traded on the London Stock Exchange's AIM market for technology startups, dropped by 13 percent on Oct.