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Iridium Pleased with Q2 Results

08 августа 2007
Iridium Satellite released its second quarter earnings last week, saying its data services are helping to drive subscriber gains and its next-generation constellation is getting closer to fruition. Company execs said the period was "exceptionally strong" and customers are switching to Iridium because its competitors have "serious network quality issues."

Iridium said it finished the quarter with 203,000 subscribers worldwide at the end of June 30, an impressive 27.7 percent increase over the same period last year (159,000). Revenue for Q2 was $66.7 million compared to $53.6 million in the same quarter last year - a 24.4 percent increase.

Second quarter EBITDA (earnings before interest, taxes, depreciation and amortization) of $20.2 million was 53 percent greater than Q206 of $13.2 million, the company said.

Iridium attributed much of its quarterly success to a growing "ecosystem" of partners. The company signed eight new partners during the period, including Astrium Services (a subsidiary of EADS Astrium), Blue Ocean, LogicaCMG, Microdesign, NRG Telecom, Qinetiq, Solara and Upwards Innovation. Officials also said the company is making progress on the development of its next-generation constellation Iridium NEXT.


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