Iridium Communications Inc. (IRDM): IRDM Posts Record Total Revenue and Oper...

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G. Falcone

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Tuesday, 11/08/2011 8:55:31 AM

Tuesday, November 08, 2011 8:55:31 AM

IRDM Posts Record Total Revenue and Operational EBITDA.

Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium") today reported strong financial results for the third quarter of 2011 and raised its outlook for the full-year 2011. Net income was $11.3 million, or $0.15 per diluted share, for the third quarter of 2011, as compared to $10.7 million, or $0.14 per diluted share for the third quarter of 2010. Operational EBITDA ("OEBITDA")(1) for the third quarter was $54.6 million, as compared to $47.1 million for the prior-year period, representing year-over-year growth of 16 percent and an OEBITDA margin(1) of 53 percent. OEBITDA for the first nine months of 2011 was $146.1 million, as compared to $116.9 million for the prior-year nine-month period, representing year-over-year growth of 25 percent. OEBITDA benefited from solid growth in commercial service and government service revenue.

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