{"id":85841,"date":"2010-11-10T19:17:16","date_gmt":"2010-11-10T11:17:16","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/desch-iridium-next-development-will-benefit-from-companys-strong-third-quarter\/"},"modified":"2010-11-10T19:17:16","modified_gmt":"2010-11-10T11:17:16","slug":"desch-iridium-next-development-will-benefit-from-companys-strong-third-quarter","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/desch-iridium-next-development-will-benefit-from-companys-strong-third-quarter\/","title":{"rendered":"Desch: Iridium Next Development Will Benefit from Company\u2019s Strong Third Quarter"},"content":{"rendered":"

[11-10-10] Iridium Communications<\/strong> has increased its 2010 full-year projections for total billable subscriber growth, government service revenues and operational EBITDA after reporting strong gains in its 2010 third quarter and establishing strong financing support for its Iridium Next constellation, the company announced in its financial results, issued Nov. 9.
\n    Based on its 12 percent growth in third-quarter total revenues at $94.5 million, driven by service revenues jumping 10 percent over results from the same period a year ago, Iridium now sees total billable subscriber growth to be about 25 percent for the 2010 fiscal year.
\nCEO Matt Desch said the increase is significant, as it represents growth in recurring revenue from Iridium\u2019s subscriber base of 413,000, which accounted for 66 percent of the operator\u2019s total revenue for the third quarter of 2010. Within service revenue growth, commercial service revenue will contribute 12 percent of the full-year increase, with government service revenues contributing between 8 percent and 10 percent.
\n    Desch also raised Irdium\u2019s full-year 2010 operational EBITDA from $150 million to between $155 million and $160 million. Operational EBITDA outlook during the same period in 2009 was $133.9 million. \u201cStrong subscriber and recurring service revenue growth continues to be driven by our leadership in the handheld voice market, an expanding M2M business and new products like Iridium OpenPort,\u201d Desch said in a statement.
\n    Iridium also said that hitting its operational and financial milestones in the third quarter would allow the company to dedicate more resources to develop the Iridium Next constellation, backed by a recently closed $1.8 billion Coface<\/strong> facility. \u201cIridium Next has moved to the full-scale development phase, and we\u2019re working with Thales Alenia Space, SpaceX<\/strong> and all of our technical partners to meet the design and development timelines. Now that we\u2019ve closed on our financing, we\u2019re also accelerating our effort with potential hosted payload customers and continue to make good progress in this area,\u201d said Desch. 
\n   Iridium\u2019s net income took an expected hit, dipping to $10.7 million in the third quarter of 2010, due to non-cash expenses related to its merger with GHL Acquisition Corp.
\n   Iridium\u2019s equipment revenues regained traction, posting a 28 percent year-over-year increase to $27.1 million due to strong satellite handset sales and increased volume for M2M units. Iridium also said it addressed a parts supply delay it experienced in the second quarter of 2010 and is meeting standard order time lines for affected customers.<\/p>\n

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[11-10-10] Iridium Communications has increased its 2010 full-year projections for total billable subscriber growth, government service revenues and operational EBITDA after reporting strong gains in its 2010 third quarter and establishing strong financing support for its Iridium Next constellation, the company announced in its financial results, issued Nov. 9.     Based on its 12 percent […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-85841","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85841"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=85841"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85841\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=85841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=85841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=85841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}