Iridium Announces Second-Quarter Results

Iridium Announces Second-Quarter Results

Iridium reported its financial reports for the second quarter.  Earnings decline from $.23/share to $.18/share.  Despite this decrease in its net income from last quarter, Iridium still produces, arguably the best product on the market.

Commercial revenue was up eight percent from last year’s comparable period.  Commercial voice and data subscribers increased five percent from last year as well.  The company has also added 11,000 voice subscribers during the second quarter.

Iridium’s voice and data solutions continue to improve situational awareness for military personnel. The company still has a strategic relationship with the U.S. Government customers. Voice and data earnings from government customers were down, due in part to the lower priced services.

The quarterly numbers will not impact the plans for the NEXT constellation and Iridium maintains its quality product, service and support.