[Satellite Today 11-13-09] Iridium Communications Inc. reported a small dorp in revenues and eaernings in the 2009 third quarter, the company announced Nov. 11.

            Iridium posted a profit of $15 million on revenues of $84.4 million in the quarter that closed at the end of September. In the same period in 2008, Iridium earned $16.9 million on revenues of $88.2 million. Iridium attributed the slip in profits to acquisition-related expenses. In September, GHL Acquisition Corp. completed its acquisition of Iridium and changed its name from GHL Acquisition Corp. to Iridium Communications Inc.

            Subscriber equipment revenue for the third quarter declined 37 percent to $21.1 million due primarily to the downturn in the global economy, Iridium said. The declines could not be offset by in commercial service revenue, which grew 23 percent to $43.9 million, and government service revenue, which improved 2 percent to $19.4 million.

            Iridium closed the 2009 third quarter with 359,000 subscribers, compared to 309,000 subscribers at the end of the 2008 third quarter.