Iridium posts 9-month growth in revenue, subscribers
Iridium Satellite LLC, a provider of mobile satellite communications services, said Monday that for the nine months ending Sept. 30, its subscriber base grew 29 percent and revenue improved 21 percent over the same period in 2003.
The company recently closed an agreement for a $65.5 million credit facility with Bank of America, replacing an earlier arrangement with Riggs Bank. “Iridium will use the (Bank of America) facility for general corporate purposes,” the company said in a statement.
Referring to the period just ended, Carmen Lloyd, Iridium's chairman and chief executive officer, said, “in the maritime segment, we added shipping customers such as Columbia Shipmanagement, Stolt-Nielsen, EastMed and Univan Ship Management, through our service providers.”
Iridium also expanded links with General Dynamics in the aviation market, and with the U.S. Defense Department, Lloyd said. The company has also formed a reseller agreement with Verizon Airfone.
Iridium posts 9-month growth in revenue, subscribers
