Avanti shares crashdive after revenues warning before recovering slightly

by | Jul 12, 2013 | Seradata News | 0 comments

Avanti Commnications, the London-based firm which offers Ka-band broadband communicaions coverage across the Mediterranean, Africa and the Middle East using its Hylas 1 and Hylas 2 communcations satellites, suffered a share-price drop of 40% ending up at 145p by the close on 10 July after the firm revealed that it would not make its revenue targets.  The following day, when it became known that Avanti’s CEO David Williams was buying his own firm’s shares, Avanti’s stock price rose 14%.

Comment by David Todd: While the mediterranean region has had more than its fair share of economic problems which would hinder revenue growth for satellite services, there are other factors.  Avanti noted that part of the reason why its revenues were growing slower than expected was because of delays in the completion of some expected contracts from Africa.

About Seradata

Seradata produce the renowned SpaceTrak Launch & Satellite Database. Trusted by 100 of the world’s leading Space organisations, SpaceTrak is a fully queryable database used for market analysis, failure/risk assessment, spectrum analysis and space situational awareness (SSA).

For more information go to www.seradata.com/spacetrak

Related Articles

Avanti loses its leader David Williams in bid to survive

The London-based regional communications satellite operator, Avanti Communications Group, which operates a small fleet of satellites providing broadband services over the "Mediterranean region" Read more

Avanti decides not to sell after securing refinancing deal

UK based, Fixed Service Satellite operator Avanti Communications Group, which put itself up for a potential sale in July, has Read more

Orbital Sciences Corp wins construction order for HYLAS 4 while Arianespace takes launch order

While the news had previously been leaked, the US spacecraft and launch vehicle manufacturer, Orbital Sciences Corporation, formally announced that it Read more

European connection: Unseenlabs orders six more satellites from GomSpace

French new-space company Unseenlabs has ordered another six 6U-CubeSats from nanosatellite manufacturer and operator GomSpace, to expand its growing fleet. Read more

Small satellite orders Sept round up: Space Robot servicers, Rashid lunar rovers, QKD coders, methane monitors and radar sats

The month of September 2022 saw a spate of small satellite orders (plus some shared rides) made. These included: US Read more

DART strikes asteroid Dimorphos in orbit-changing experiment

There have long been concerns that the Earth could one day be threatened by the impact of a large object Read more

Two Chinese Long March launches put six satellites into LEO on same day: Yaogan 36-01A, B and C plus Shiyan 16A and B and Shiyan 17

China launched to space rockets on 26 September 2022.  The first up was the Long March 2D/2 (CZ-2D/2) Y68 launch Read more

Falcon 9 launches another batch of Starlink satellites for SpaceX – this one of 52 Group 4-35 satellites

SpaceX successfully launched a Falcon 9v1.2FT Block 5 from Cape Canaveral, Florida, USA at 2332 GMT on 24 September 2022. Read more