Thu, Oct. 29, 9:22 AM
- Iridium (NASDAQ:IRDM) is up 7.7% premarket after posting Q3 results that beat on top and bottom lines as government service revenue increased and the company cut costs on some products.
- Operational EBITDA was $63.8M, up 9% Y/Y, with a margin of 60%.
- Revenue by segment: Service revenues, $81.2M (down fractionally); Equipment, engineering and support, $24.8M (down 4%).
- Total billable subscribers were 781,000, up 7.6% Y/Y and up 2% sequentially.
- Iridium affirmed full-year outlook for total service revenue growth of 1-3% and operational EBITDA of about $230M. Looking further out, it reiterated expectations of total service revenue between $420M-$465M for 2018 (up $309.4M from 2014) and operational EBITDA margin of about 60% by then.
- Press Release
Thu, Oct. 29, 7:05 AM
Wed, Oct. 28, 5:30 PM
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Thu, Jul. 30, 10:36 AM
- Iridium Communications (NASDAQ:IRDM) is up 1.2% after posting a Q2 where it beat top-line expectations but cut guidance for 2015 and long-range in a "more challenging year than we expected," says CEO Matt Desch.
- Profits rose 73% Y/Y, and EPS of $0.21 beat an expected $0.19. Operational EBITDA of $61M beat an expected $55.6M. Revenues dropped and missed expectations slightly, though.
- Revenue by segment: Service revenue, $78M (up 2%); equipment, engineering and support, $23.9M.
- Total billable subscribers rose to 766K, from Q1's 748K and a year-ago 705K, with growth in machine-to-machine customers.
- For 2015, the company cut its expected service revenue growth to 1-3% from a previous 3-6%, and EBITDA of $230M (down from $230M-$240M) due to "ongoing macroeconomic headwinds. Our voice market continues to be pressured by a strong dollar and weakness in the energy sector, and we're also seeing reduced oil and gas activity now impact our M2M results."
- It lowered its long-term outlook as well, seeing service revenue for full-year 2018 of $420M-$465M (down from $420M-$485M), but affirmed its guidance on EBITDA margin of about 60%, negligible cash taxes and net leverage for 2018 of about 4x EBITDA.
- Press Release
Thu, Jul. 30, 7:03 AM
Thu, Apr. 30, 10:43 AM
- Iridium Communications (NASDAQ:IRDM) has slipped 4.1% after missing on top and bottom lines for Q1, as a drop in equipment sales ate up gains in service revenues.
- EBITDA grew 2% to $52.5M, mainly due to higher government service revenue and lower warranty costs, but missed an expected $54.3M.
- Revenues by segment: Commercial service, $57.4M (flat); government service, $18M (up 12.5%); subscriber equipment, $16.5M (down 18%); engineering and support service, $5M (up 13%).
- Q1 ended with 748K total billable subscribers, up 11% from a year-ago 674K primarily on strength in machine-to-machine customers.
- The company affirmed full-year guidance of total service revenue growth of 3%-6%, and operational EBITDA to be between $230M-$240M.
- Press release
Thu, Apr. 30, 7:10 AM
Thu, Feb. 26, 8:33 AM
- Iridium Communications (NASDAQ:IRDM) is up 2.9% in premarket trading after beating on top and bottom lines in Q4 and guiding to steady service revenue growth in the coming year.
- Operational EBITDA of $51.8M grew 4% and beat an expected $49.5M.
- Breaking out $100.5M in revenue: Service revenue, $78.2M (up 2%); equipment, engineering and support revenue, $22.3M.
- Total billable subscribers grew 11% Y/Y and 1.8% sequentially to 739K, driven mainly by machine-to-machine and commercial voice customers.
- Commercial voice/data subscribers grew 4% to 354K, with an ARPU of $43 (down 9% mainly on one-time Q4 benefit); commercial machine-to-machine data ARPU of $16 (flat).
- Government business ended quarter with 60K subs, up 17%.
- The company guided for 2015 service revenue growth between 3% and 6%, and to full-year operational EBITDA of $230M-$240M, in line. It expects equipment revenue ($17.1M in Q4, up 8%) won't grow in 2015 as a strong dollar dampens commercial handset sales.
- Conference call at 8:30 a.m. ET.
- Press release
Thu, Feb. 26, 7:03 AM
Wed, Feb. 25, 5:30 PM
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Oct. 30, 2014, 7:02 AM
Aug. 1, 2014, 3:52 PM
- CRT Capital has upgraded Iridium (IRDM +0.5%) to Buy in response to the company's Thursday Q2 report. Its target is at $11.
- The satellite network owner beat revenue estimates (while missing on EPS) on the back of a 31K Q/Q increase in billable subscribers to 705K. Commercial service revenue grew 6% Y/Y to $60.2M, government service revenue 11% to $16M, equipment revenue 3% to $20.3M, and engineering/support revenue 72% to $6M. Strong M2M data service growth boosted both commercial and government sales.
- Iridium still expects 2%-4% full-year service revenue growth, and its forecast for an 8%-12% service revenue CAGR from 2014-2018 is also unchanged.
Jul. 31, 2014, 7:10 AM
May 1, 2014, 9:03 AM
- Iridium's (IRDM) commercial sub base grew by 8K Q/Q and 51K Y/Y to 621K, and its government sub base grew by 2K Q/Q and Y/Y to 53K.
- Commercial voice/data ARPU was $43, down $4 Q/Q but unchanged Y/Y. Commercial M2M ARPU was $16, unchanged Q/Q and Y/Y.
- Commercial service revenue rose 7% Y/Y to $57.4M, government revenue 6% to $16M, equipment revenue 16% to $20.2M, and engineering/support revenue 45% to $4.4M.
- Operational EBITDA rose 10% Y/Y (in-line with revenue growth) to $51.6M; OEBITDA margin was 53%. Iridium is reiterating its 2014 and long-term service revenue and OEBITDA forecasts (provided on Feb. 27).
- Q1 results, PR
May 1, 2014, 7:12 AM
Apr. 30, 2014, 5:30 PM
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Iridium Communications Inc offers voice and data communications services and products to businesses, U.S. and international government agencies and other customer. It provides mobile voice & data communications services via satellites.
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