[Satellite TODAY 11-09-11] Iridium’s 2011 third quarter performance exceeded analysts estimates on nearly every metric and allowed management to raise its 2011 full-year guidance for operational EBTIDA, revenue, and subscriber growth.

            According to the MSS operator’s latest financial results issued Nov. 8, Iridium produced an 8 percent year-over-year growth in revenues at $105 million, which also beat analysts’ consensus by 8 percent and was driven by an 11 percent increase in commercial service revenue and a 6 percent increase in government service revenue. Both Iridium’s EBITDA and operational EBITDA were 17 percent higher at the end of the third quarter compared to the same timeframe last year.

In a statement, Iridium CEO Matt Desch said he was particularly pleased with his company’s 35 percent growth in its voice subscriber base, adding 10,300 customers despite increased low-end competition from its MSS competitors.  Iridium’s M2M subscriber additions in the third quarter set a new company record at 18,000. Desch said that while the subscriber growth reflected the impact of Iridium’s new 9602 modem, the company saw no impact from new consumer-oriented devices that began shipping in October.

Desch increased the operator’s 2011 EBITDA guidance from a range between $180 million and $190 million to a solid $190 million, due to higher-than-expected subscriber growth and an improved outlook for equipment revenues.