Last $9.29 USD
Change Today -0.04 / -0.43%
Volume 314.7K
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iridium communications inc (IRDM) Snapshot

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52 Week High
11/4/14 - $10.50
52 Week Low
02/5/14 - $5.95
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iridium communications inc (IRDM) Details

Iridium Communications Inc. provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign governments, non-governmental organizations, and consumers worldwide. It offers postpaid mobile voice and data satellite communications services; prepaid mobile voice satellite communications services; broadband data services; machine-to-machine services for sending and receiving data from fixed and mobile assets in remote locations to a central monitoring station. The company also provides other services comprising inbound connections from the public switched telephone network, short message services, subscriber identity module, activation, customer reactivation, and other peripheral services. In addition, it offers voice and data solutions, including personnel tracking devices; asset tracking devices for equipment, vehicles, and aircraft; aircraft and submarine communications applications; specialized communications solutions for high-value individuals; mobile communications and data devices for the military and intelligence community, such as secure satellite handsets, as well as offers voice, data, messaging, and paging services; and maintenance services for the department of defense’s dedicated gateway. Further, the company provides satellite handsets, Wi-Fi accessories, voice and data modems, broadband data devices, and machine-to-machine data devices; and various accessories for its devices that include batteries, holsters, earbud headphones, portable auxiliary antennas, antenna adaptors, USB data cables, and charging units; Iridium GO! personal connectivity device that creates a Wi-Fi hotspot; and engineering and support services. The company sells its products and services to commercial end-users through service providers, value-added resellers, and value-added manufacturers. As of December 31, 2013, it had approximately 664,000 billable subscribers. The company was founded in 2000 and is headquartered in McLean, Virginia.

224 Employees
Last Reported Date: 03/4/14
Founded in 2000

iridium communications inc (IRDM) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $771.7K
Chief Financial Officer, Chief Administrative...
Total Annual Compensation: $454.0K
Chief Operating Officer and Director
Total Annual Compensation: $378.3K
Chief Legal Officer and Secretary
Total Annual Compensation: $313.0K
Executive Vice President of Sales & Marketing
Total Annual Compensation: $325.0K
Compensation as of Fiscal Year 2013.

iridium communications inc (IRDM) Key Developments

Iridium Communications Inc. Completes First Testing Phase of the Iridium NEXT Platform Software

Iridium Communications Inc. announced the completion of the first testing phase of the Iridium NEXT platform software. Developed by Thales Alenia Space, the platform software will manage all flight functions on Iridium NEXT satellites, including such systems as power management, solar array positioning, propulsion operations, navigation and attitude control. This first phase completed all testing of primary functions in preparation for the first launch, which is scheduled to be in 2015. The software platform for Iridium NEXT satellites was developed with functionality similar to the software on Iridium's current satellites, which ensures that each satellite is able to autonomously recover from issues on orbit. This is a necessary element in limiting operations workload and rapidly reacting to on-orbit anomalies that, if left to ground intervention, could result in lost satellites.

Iridium Communications Inc. Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Revises Earnings Guidance for 2014

Iridium Communications Inc. announced consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenue of $107,493,000 against $100,569,000 a year ago. Operating profit was $33,013,000 against $29,451,000 a year ago. Earnings before income taxes were $32,456,000 against $27,021,000 a year ago. Net income attributable to common stockholders was $16,529,000 against $14,835,000 a year ago. Operational EBITDA was $58,423,000 against $53,326,000 a year ago. Capital expenditures were $36,856,000 against $111,757,000 a year ago. Net debt as on September 30, 2014, was $480,460,000. For the nine months, the company reported total revenue of $308,046,000 against $284,442,000 a year ago. Operating profit was $91,070,000 against $83,637,000 a year ago. Earnings before income taxes were $84,777,000 against $76,104,000 a year ago. Net income attributable to common stockholders was $43,489,000 against $41,682,000 a year ago. Operational EBITDA was $164,717,000 against $151,262,000 a year ago. Capital expenditures were $144,929,000 against $263,445,000 a year ago. For the full year of 2014, the company now expects: Total service revenue growth between 5% and 6% against 2% to 4% as previously expected, and OEBITDA of approximately $215 million against $205 million to $215 million as previously expected. This updated outlook considers higher operating expenses in the fourth quarter due to spending on new products and important cost reduction initiatives and taking proactive steps to replace existing maritime broadband devices with the latest Iridium pilot terminal for strategic partners. Despite the sequential increase in operating expenses, the company is quite comfortable with raising operational EBITDA guidance to this level given the strength service revenue.

Iridium Communications Inc. Partners with Trimble to Support Transport & Logistics Global Expansion

Iridium Communications Inc. announced an agreement with Trimble that expands the company's use of satellite communications in its core Transportation and Logistics (T&L) solutions beyond the North American market. Under the agreement, Iridium will provide satellite Machine-to-Machine (M2M) connectivity services for Trimble's T&L solutions in Europe and several other regions of the world. Iridium, a long-time Trimble partner, already provides connectivity for Trimble companies PeopleNet and Geotrac. The expansion of satellite based M2M connectivity services with an industry leader such as Trimble is a clear demonstration of the economic value and capabilities that the Iridium(R) network provides both its customers and end users. With Iridium, companies like Trimble leverage a broad range of M2M capabilities supported by the company's unique satellite network which delivers superior, globally uniform, service. Iridium's reliable satellite network ensures connectivity for the more than 80% of the earth's surface not covered by traditional terrestrial networks.


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