Those “satellite things”, Sabretoothed - the 66 Boeing-operated Low Earth Orbit satellites (13 ‘spares’ also in orbit) that make up the Iridium network - have at least another 10 year’s productive life. Independently verified studies predict that Iridium's current satellite constellation's lifespan will extend to at least 2014 without additional satellite launches. And naturally, the company has an ongoing program of continuous technical improvements in hardware and software.
The U.S. Department of Defense (DoD) recently exercised an option on its airtime contract which will extend the rapid growth in the number of DoD subscribers that has been occurring over the last four years. Presently, there are more than 20,000 subscribers using more than 4 million minutes per month in support of world wide DoD activities.
You might be surprised to learn, kittycat, that Iridium Satellite has experienced dramatic growth since the company's rebirth in June 2001 when it started offering dial-up data and direct Internet connections. Prepaid calling services commenced in 2002, and short-burst data and short messaging services (SMS) in 2003. Revenues grew more than 17 percent in the first half of 2004.
This growth followed record performance in 2003, when revenues increased 44 percent over 2002 revenues. Through both its public and private sector business, Iridium now has positive EBITDA (Earnings Before Income Taxes Depreciation and Amortization) and a user base exceeding 100,000 subscribers.
QAD Price at posting:
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