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Iridium revenues stay flat in new figures

Matt Desch, Iridium Matt Desch, Iridium

Iridium Communications has reported third-quarter 2015 total revenues of $106 million, made up of $81.2 million of service revenue and $24.8 million from equipment, engineering and support, a one per cent decline versus the comparable period in 2014.

{mprestriction ids="1,2"}Net income was up however, rising to $29.5 million compared to $20.4 million a year ago.

The company ended the quarter with 781,000 total billable subscribers, which compares to 726,000 for the year-ago period and up from 766,000 for the quarter ended June 30, 2015. Total billable subscribers grew 8 per cent year-over-year, driven by growth in machine-to-machine (M2M) customers, the company said.

Service revenue, which mostly represents recurring revenue from the subscriber base, was 77 per cent of total revenue for the third quarter of 2015, with the total staying essentially the same as in 2014.

The company will hope to expand its subscriber base significantly in the next few years as it begins the roll-out of its Iridium NEXT network, which CEO Matt Desch says is expected to begin in the second quarter of next year.

“We have revised the date of the initial launch of the Iridium NEXT program to reflect an updated delivery schedule from our prime satellite supplier, Thales Alenia Space,” he said.

“In consideration of this timeline, Iridium and launch service provider Kosmotras have now scheduled the deployment of the first two satellites of the Iridium NEXT constellation for April 2016, and we continue to expect the Iridium NEXT constellation to be fully operational by the end of 2017.”

“Once deployed, Iridium NEXT will offer advanced satellite services like Aireon and Iridium Certus broadband, which will drive revenue growth in 2018 and beyond.”{/mprestriction}

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