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Iridium Announces First Quarter Revenue and Subscriber Growth
BETHESDA, Md., April 14 /PRNewswire/ -- Iridium Satellite LLC, the global supplier of mobile satellite communication services, today reported a 19% increase in the company's total number of subscribers as of March 31, 2005 over the 2004 first quarter total. Revenue for the first quarter 2005 increased by 26% over total revenue for the same quarter last year.
"Iridium's revenue and subscriber growth, and strong first quarter profits, reflect the results of a vertical market strategy penetrating key markets such as maritime, defense/government services and aviation," said Carmen Lloyd, Chairman and Chief Executive Officer, Iridium Satellite. "With continuing success of this strategy, we foresee continued profitability."
Lloyd said, "Reaching profitability validates how our customers tap the Iridium satellite constellation, which is quite different than originally intended. Initially built as a premium-priced voice network, the majority of our new subscribers place great value on our network as a source for lower- cost data services."
Lloyd added, "In the first quarter, the Iridium satellite constellation set a record for longevity. Third party engineering analysis has proved the network viable through 2014 without the need for additional launches. Not only do we see continued profitability and strong free cash flow. We also expect no major capital expenditures for the next five years as we continue to grow our business, and invest in new and innovative products and services."
First Quarter 2005 Highlights
In March, the company announced that its constellation of low-earth-orbit satellites achieved a world record of more than 500 satellite-years of in- orbit performance. Iridium's satellite network consists of 66 active satellites and 12 in-orbit spares.
Also during the quarter, Iridium announced a donation of more than $500,000 worth of satellite phones and air time to the International Federation of Red Cross and Red Crescent Societies. The donation went directly to relief workers in the areas hardest hit by the tsunami in Asia. Iridium is working with government organizations around the world to develop a global tsunami warning system based on global satellite communications capabilities.
Finally, Iridium played a role in helping pilot Steve Fossett in his first solo, non-stop, non-refueled circumnavigation of the world. Fossett and his team used an Iridium-based service that Blue Sky Network provided for two-way voice and e-mail during the flight, as well as for tracking the aircraft's location and monitoring its onboard systems, including one critical element -- fuel consumption.
Iridium cited other recent developments:
* The "9600" Transceiver is a new two-way, low-cost modem for Short
Burst Data (SBD) only. The new hardware and companion service will
enable users to gather critical data from the field in a broad range
of applications such as asset-tracking, supply chain management and
field force automation. The company expects production deliveries of
the new device in late 2005.
* Group Call Push-to-Talk will allow one user to talk (or transmit data)
to many users simultaneously. It will provide over-the-air group
management where dispatch centers can add users to groups as needed.
In addition, users will be able to access voice and data
communications at the same time when immediate access to critical
systems and information from any location is required. Iridium expects
the initial deployment for the U.S. Department of Defense in the
fourth quarter of 2005.
* Expanded Type-Approved Ship Security Alert System (SSAS) Solutions
Meeting International Maritime Organization (IMO) Requirements is a
result of Iridium adding four value-added manufacturing partners with
SSAS products type-approved by flag states and major classification
societies to meet IMO performance standards. The SSAS terminals take
advantage of Iridium's global data and voice services, offering total
integrated solutions for ship communication requirements. IMO SSAS
regulations require deep-sea passenger and cargo ships to be equipped
with a device that can send an alert message containing the ship's ID
and position whenever the ship is under threat from pirates or
terrorists.
Lloyd concluded, "Iridium has a number of new products and services planned for 2005 and 2006 that leverage our unique ability to provide coverage of the entire globe. We are finding that there is considerable, current demand for narrowband voice and data services in our key vertical markets, and we expect that the availability of new, low-cost data services, in particular, will contribute to growth of this demand."
Iridium Satellite LLC (http://www.iridium.com/) is the only provider of truly global satellite voice and data solutions with complete coverage of the earth (including oceans, airways and Polar Regions). Iridium delivers essential communications services to and from remote areas where no other form of communication is available. Iridium makes this possible through its constellation of 66 low-earth orbiting (LEO), cross-linked satellites. The company also has 12 spare satellites in-orbit. The Iridium service is ideally suited for industries such as maritime, aviation, government/military, emergency/humanitarian services, mining, forestry, oil and gas, and heavy construction. Iridium provides service to the U.S. Department of Defense, and sells equipment and services through 44 service providers. In addition, 32 value-added manufacturers build Iridium-based products, and 28 value-added resellers build and sell-Iridium-based solutions.
Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Carmen Lloyd http://profnet.prnewswire.com/ud_public.jsp?userid=508767
Iridium Satellite LLC
CONTACT: Liz DeCastro of Iridium Satellite LLC, +1-301-571-6257,liz.decastro@iridium.com
Web site: http://www.iridium.com/
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