Iridium Reports Strong Growth in Q2
Iridium Communications Inc. (Nasdaq:IRDM) reported financial results for the quarter ended June 30, 2010. The following reflects the results of Iridium Communications Inc. for the second quarter of 2010 compared to those of Iridium Holdings LLC (predecessor) for the second quarter of 2009. - Total billable subscribers grew 16.8%, reaching approximately 383,000 – up from approximately 328,000 at the end of the comparable quarter last year. Growth occurred across all product areas. - Commercial service revenue increased 13.8% to $45.5 million in the second quarter compared to $40.0 million during the second quarter of 2009. For the first half of the year, commercial service revenue was up 12.5% over the first half of 2009.
Iridium Expands with South African License
Iridium Communications Inc. (Nasdaq:IRDM) announced the establishment of Iridium South Africa, under which Iridium has licenses to operate, provide and sell mobile satellite services (MSS) in the country. The authorization was provided by the Independent Communications Authority of South Africa (ICASA), the regulator for the South African communications and broadcasting services. This authorization enables Iridium partners the ability to better address the growing government and commercial enterprise market demand with Iridium products, services and applications in the country. The Iridium low-Earth orbiting (LEO) satellite constellation provides mobile voice and data communications over the entire planet, offering service where no other means of communication exists.
