Iridium Revenues Climb As Subscriber Base Jumps 34 Percent In 2007
[Satellite Today – 2-25-08] Iridium Satellite posted a 26 percent increase in revenues for the fourth quarter of 2007, the company announced Feb. 25. Revenue for the quarter was $66.8 million, up from $53.2 million in the same quarter last year. For the year, revenue was up 23 percent, to $260.4 million, over $212.4 million in revenue for 2006.
Iridium also announced a worldwide subscriber base of 234,000, a 34 percent increase over the fourth quarter 2006 total of 175,000.
“Our 2007 gains in subscribers, revenue and earnings reinforced Iridium’s position as the fastest-growing company in the mobile satellite services sector,” Matt Desch, Iridium’s chairman and CEO, said in a statement. “Moving forward, we will build on this position by introducing new service offerings that will drive equipment sales and orders as well as increase commercial applications and usage on our network.”