Iridium® Safety Voice Communications Installs Surge Past 500 Aircraft
Iridium Communications Inc. (Nasdaq:IRDM) today announced that its Safety Voice service, which is used for air traffic communications, has been adopted by more than 500 aircraft as of February 2017. The Iridium Safety Voice service provides aircraft operators with an alternative to existing HF radio systems, replacing them with a secure satellite-based option for long-range communications.
Iridium to Participate In Raymond James 38th Annual Institutional Investors Conference
Iridium Communications Inc. (Nasdaq:IRDM) today announced that Chief Financial Officer Thomas J. Fitzpatrick is scheduled to speak at the Raymond James 38th Annual Institutional Investors Conference in Orlando, Florida on Monday, March 6, 2017 at 8:05 am ET. The presentation will be simultaneously audio webcast at http://investor.iridium.com/events.cfm. The audio webcast will be archived for seven days following the conference.
Iridium Announces Fourth-Quarter and Full-Year 2016 Results; Company Issues 2017 Outlook
Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium") today reported financial results for the fourth quarter of 2016 and issued its full-year 2017 and long-range outlook. Net income was $24.1 million, or $0.19 per diluted share, for the fourth quarter of 2016, as compared to net loss of $69.4 million, or $0.77 per diluted share, for the fourth quarter of 2015. Net loss for the fourth quarter of 2015 included a non-cash goodwill impairment charge of $87.0 million, or $0.91 per diluted share. Adjusted to eliminate this non-cash goodwill impairment charge(1), net income would have been $17.6 million, or $0.14 per diluted share, for the fourth quarter of 2015. Operational EBITDA ("OEBITDA")(1) for the fourth quarter was $61.3 million, as compared to $56.8 million for the prior-year period
Iridium Announces Target Date for Second Launch of Iridium NEXT
Iridium Communications Inc. (Nasdaq:IRDM) announced it has received a targeted launch date of mid-June for the second mission of ten Iridium NEXT satellites. Originally anticipated for mid-April of 2017, the date has shifted due to a backlog in SpaceX's launch manifest as a result of last year's September 1st anomaly. This second launch will deliver another ten Iridium NEXT satellites to low-Earth-orbit (LEO) on a SpaceX Falcon 9 rocket. SpaceX is targeting six subsequent Iridium NEXT launches approximately every two months thereafter.
Iridium Announces Release Date for Fourth-Quarter 2016 Financial Results
Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium") will host a conference call on Thursday, February 23, 2017 at 8:30 a.m. Eastern Time (ET) to discuss the Company's fourth-quarter 2016 financial results. In advance of the call on February 23, 2017, Iridium will issue its fourth-quarter 2016 earnings press release, which will be available at http://www.iridium.com. To participate in the teleconference, callers can dial the toll-free number 1-877-334-1964 (U.S. callers only) or 1-631-291-4574 (from outside the U.S.). The conference call ID is 48576241. To help ensure the conference call begins in a timely manner, please dial in five minutes prior to the scheduled start time. The conference call will also be simultaneously webcast at http://www.iridium.com.
Iridium Adds Eighth Launch with SpaceX for Satellite Rideshare with NASA/GFZ
Iridium Communications Inc. (NASDAQ:IRDM) announced today that it has contracted with SpaceX for an eighth Falcon 9 launch. Along for the ride are the twin-satellites of the NASA/GFZ Gravity Recovery and Climate Experiment Follow-On (GRACE-FO) mission, which will be deployed into a separate low-Earth orbit, marking the first rideshare deal for Iridium. An agreement of this kind is economical for all parties, and affords Iridium the ability to launch five additional satellites for its next-generation global satellite network.The rideshare is anticipated to launch out of Vandenberg Air Force Base in California by early 2018.