Iridium Satellite LLC (“Iridium”) has reported consolidated financial results for the three months ended June 30, 2009.

The company reported growth in subscribers, revenue, Operational EBITDA and net income for the second quarter 2009 compared to the second quarter 2008. In addition, the company is on track to complete its planned transaction to combine with GHL Acquisition Corp. (“GHL Acquisition”) (NYX: GHQ, GHQ.U and GHQ.WS), which will take Iridium public. The consolidated financial results for the second quarter 2009 continue to demonstrate the company’s strength despite the global economic downturn. Subscribers were up 23.9 percent to 347,000 at the close of the second quarter of 2009 from 280,000 at the close of the second quarter of 2008. Commercial service revenue increased 21.6 percent to $39.9 million in the second quarter of 2009 compared to $32.8 million during the same quarter in 2008. Government service revenue increased 15.2 percent to $18.2 million in the second quarter of 2009 compared to $15.8 million in the same quarter of 2008. Subscriber equipment revenue for the quarter declined 25.7 percent to $24.6 million compared to $33.1 million in the second quarter of 2008. Overall revenue increased 1.2 percent to $82.7 million in the second quarter of 2009 from $81.7 million in the previous year’s second quarter. To read the entire financial report, access this direct link.