Iridium Announces Subscriber and Revenue Results

Interesting information on the number of actual subscribers on their Satellite Service. Comparing with the latest numbers I have heard from Globalstar it appears Iridium has approx 10%-15% fewer subscribers.

Iridium Satellite LLC, the global supplier of mobile satellite services, today said that it has approximately 137,500 subscribers as of September 30, 2005. The new total represents a 22% increase over the total number of subscribers at the end of the third quarter last year. Revenue for the nine months ended September 30, 2005 was up 24% over the nine months ended September 30, 2004.

“Iridium added approximately 10,500 subscribers in the third quarter of 2005,” said Carmen Lloyd, Chairman and Chief Executive Officer, Iridium Satellite. “Increased usage by first responders engaged in relief efforts in the U.S. Gulf Region in September contributed to our strongest quarter for subscriber growth and equipment sales.”

Lloyd said, “Since our network does not rely on land-based infrastructure, Iridium was able to operate during the hurricanes when flooding and winds disabled conventional telephone and cellular systems, as well as radio systems, in Louisiana, Mississippi and Alabama. We are pleased to have played a key role for first responders during this crisis.”

Complete Press Release: http://www.iridium.com/corp/iri_corp-news.asp?newsid=173