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Iridium Reports Double-digit Revenue Growth

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Iridium reported on August 8th, 2011 a 13% increase in revenue for first half of 2011. Total revenue through June 20th was $187.2 Million. 

Iridium CEO Matt Desch states in a conference call with investors the company, which in September will be introducing a handset with a host of new features "has also seen no impact on its business from rival Inmarsat’s hand-held phone, which was introduced in mid-2010."  Iridium is now up to 477,700 subscribers, including 294,800 voice subscribers.

Desch said the company has sufficient in-orbit spares to avoid any permanent service degradation before the company’s second-generation system, Iridium Next, is launched starting in 2015.

Read the entire story on SpaceNews.com http://t.co/FIeb2oZ

BlueCosmo will be carrying the new handset, so keep watch here for the official release.

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