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Iridium Posts Growth in Subscribers and Earnings in 3Q |
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BETHESDA, Md., Nov. 9, 2006/Satnews Daily/ ― Iridium Satellite LLC said on Wednesday it now has approximately 169,000 subscribers worldwide as of September 30, 2006 versus approximately 137,500 subscribers at the same time last year.
For the nine months ended September 30, 2006, Iridium said it posted total revenue of $159.3 million. Iridium's total revenue in the third quarter was $54.7 million. Third quarter 2006 EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was $14.0 million. EBITDA through nine months was $39.9 million.
Iridium said third quarter results show considerable increase in demand for voice and data services from commercial customers. Commercial Service revenue continued to grow, and it now comprises approximately 70 percent of total revenue, Iridium said.
“With seven consecutive quarters of profitability, Iridium is in a strong position to move forward with its next generation constellation and service plans,” said Matt Desch, who was appointed as chairman and CEO in September.
Iridium said demand for data services increased 44 percent over the same period last year. In the first quarter of this year, Iridium began delivering its new, lower-cost satellite data modem, the 9601 Short-Burst Data (SBD) transceiver. The company designed the 9601 to optimize two-way data links.
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