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Iridium Satellite reports 61% increase in Q3 earnings


Wrapping up its best quarter ever, Iridium Satellite has announced it had approximately 225 000 subscribers worldwide at the end of the third quarter 2007. This represents a 33% increase over the third quarter 2006 total of 169 000.

Revenue in the quarter was $74,2-million against $54,7-million in the same quarter last year, a 36% increase. Third quarter EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) of $22,5-million was 61% greater than the third quarter 2006 total of $14-million. EBITDA through nine months was $56,3-million against $39,9-million for the same periods in 2006, a 41% increase.
Iridium noted continued strong growth for its global satellite communications services in the machine-to-machine (M2M) market. During the third quarter, the company’s total number of short burst data (SBD) subscribers increased 226% over third quarter 2006 and SBD traffic increased 176% since the third quarter of 2006.
Local reseller Satcomms CEO Anthony Glass said locally Iridium products are well suited to the Southern African market and growth has been significant.