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TMCNet:  Iridium Communications Q3 net income increases

[November 07, 2012]

Iridium Communications Q3 net income increases

Nov 07, 2012 (Datamonitor via COMTEX) -- Iridium Communications Inc., a provider of mobile voice and data communications services via satellite, has reported that net income for the third quarter ended September 30, 2012 was $17.84 million, compared to $12.01 million for the same quarter ended September 30, 2011.

Total revenue for the third quarter ended September 30, 2012 was $100.44 million, compared to $102.12 million for the same quarter ended September 30, 2011.

Net income for the nine months ended September 30, 2012 was $47.92 million, compared to $32.62 million for the same period ended September 30, 2011.

Total revenue for the nine months ended September 30, 2012 was $291.24 million, compared to $289.33 million for the same period ended September 30, 2011.

"While 2012 has presented its share of challenges, we remain bullish about our long-term prospects as we head into a year of accelerating growth in 2013," said Matt Desch, CEO, Iridium.

"We continue to expect that our M2M, maritime and aviation markets will be an important source of revenue in the next three years, while also extending our leadership position as the premium provider in the handset business. In addition, with new and innovative capabilities in development, we'll supplement already solid growth in our commercial business lines with new sources of revenue." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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