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Iridium releases Q2 results

  • Friday, 27 July 2007 | News

Iridium Satellite has released its Q2 2007 financial results, and claims that it now has 203,000 subscribers worldwide, a 27.7 percent increase over the second quarter 2006 total of 159,000.

In the maritime sector alone the number of subscribers is up 18 percent compared with last year, while maritime traffic through the satellite network grew at a rate of 12 percent. The number of ships using Iridium's prepaid Crew Calling service increased by 17 percent year over year.

Revenue in the quarter was $66.7 million versus $53.6 million in the same quarter last year, a 24.4 percent increase.

Iridium attributes some of the growth to an increase in the number of partners supplying its services. The company signed eight new partners in the quarter, including Astrium Services (a subsidiary of EADS Astrium), Blue Ocean, LogicaCMG, Microdesign, NRG Telecom, Qinetiq, Solara and Upwards Innovation.

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