Iridium Satellite LLC has reported the Company's consolidated financial results for the three months ended March 31, 2009.

Subscribers in the first quarter 2009 were up 31.2 percent to 328,000 from 250,000 in the first quarter of 2008. While subscriber equipment revenue declined 34.3 percent to $20.5 million in the first quarter of 2009 compared to $31.2 million in the first quarter of 2008, commercial service revenue increased 26.9 percent in the first quarter of 2009 to $36.8 million, compared to $29.0 million in the first quarter of 2008, such that overall revenue increased 2.0 percent to $75.8 million in the first quarter of 2009 from $74.3 million for the first quarter of 2008. Operational EBITDA1 increased 4.9 percent to $27.6 million in the first quarter of 2009 from $26.3 million in the first quarter of 2008. Net income declined 41.9 percent to $9.7 million in the first quarter of 2009 from $16.7 million in the first quarter of 2008, primarily due to increased expenses related to Iridium NEXT, the company’s next-generation satellite program. To read the entire report, access this direct link.