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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Iridium Communications Inc.    IRDM

IRIDIUM COMMUNICATIONS INC.

(IRDM)
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Iridium Communications : Launches Online Museum to Commemorate 20th Anniversary Milestone, Educate and Preserve its Unique History

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07/31/2020 | 07:02am EDT

MCLEAN, Va., July 31, 2020 /PRNewswire/ -- Iridium Communications Inc. (NASDAQ: IRDM) is proud to unveil the Iridium Online Museum, celebrating the challenges and successes of an audacious idea that initially failed, but ultimately succeeded and achieved its vision, inspiring a resurgence in commercial interest in space. The launch of the museum is timely, coinciding with the 20th anniversary of the first legal steps taken towards Iridium's rebirth as a modern company, on July 31, 2000. As Iridium continues its legacy of innovation and enters a new chapter of its story following the success of the Iridium® NEXT launch program, continued growth, and financial transformation, the interactive website commemorates the Company's unique history and offers lessons for other current and future endeavors.

The Iridium Online Museum celebrates the entire arc of Iridium's history, including the very public initial challenges of both its creation and business plan, which was based on providing a single service from Low Earth Orbit (LEO). Amidst great expectations, the constellation was a technological success but failed dramatically from a business point of view. Visitors can go back in time to learn about Iridium's journey of inventing the first communications system covering the whole planet, to its eventual business success as a multi-service innovation platform with more than 1.3 million users and hundreds of technology partners. The museum explores the evolution of the company through archives of videos, photos and artifacts, and details Iridium's presence in pop culture and academia throughout the years.

With a variety of interactive modules, visitors can get a detailed look at the Delta II launch vehicle that carried some of the first-generation Iridium satellites and learn about rocket stage and fairing separations. They can also go through the different steps of launching the company's second constellation, such as executing a slot swap, safely deorbiting the original satellites and activating new services. Iridium flare lovers can revisit some of the iconic images that captured the imaginations of people around the world with the commemorative #flarewell module. And as the museum continues to evolve, visitors will be able to upload media and share their own Iridium stories for the chance to contribute to Iridium's history.

"We've developed a lot of wisdom as a result of our history, and we want others to learn from the path we carved and appreciate, understand, and be inspired by Iridium's story," says Matt Desch, CEO at Iridium. "The audacity of the vision, the challenges the company went through, the milestones along the way, and the people that have been involved should be celebrated."

The Iridium Online Museum is a tribute to the thousands of people who have been associated with Iridium over the years. Not just former employees or current associates, but those connected with the Iridium ecosystem of hundreds of companies developing solutions for many different business segments. It is also for individuals who have followed and supported Iridium's journey, and risk-takers inspired to create the next big idea.

Iridium Communications Inc. 
Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2019, the company completed a generational upgrade of its satellite network and launched its new specialty broadband service, Iridium Certus®. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com

Press Contact:
Jordan Hassin
Iridium Communications Inc.
jordan.hassin@iridium.com
+1 (703) 287-7421
Twitter: @Iridiumcomm

Investor Contact:
Kenneth Levy
Iridium Communications Inc.
ken.levy@iridium.com
+1 (703) 287-7570

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/iridium-launches-online-museum-to-commemorate-20th-anniversary-milestone-educate-and-preserve-its-unique-history-301103727.html

SOURCE Iridium Communications Inc.


© PRNewswire 2020
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Financials (USD)
Sales 2020 560 M - -
Net income 2020 -75,0 M - -
Net Debt 2020 1 422 M - -
P/E ratio 2020 -52,6x
Yield 2020 -
Capitalization 3 926 M 3 926 M -
EV / Sales 2020 9,55x
EV / Sales 2021 8,63x
Nbr of Employees 505
Free-Float 87,6%
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 31,00 $
Last Close Price 29,63 $
Spread / Highest target 11,4%
Spread / Average Target 4,64%
Spread / Lowest Target -2,11%
EPS Revisions
Managers
NameTitle
Matthew J. Desch Chief Executive Officer & Director
Robert H. Niehaus Chairman
Suzanne E. McBride Chief Operating Officer & Director
Thomas J. Fitzpatrick Chief Financial & Administrative Officer, Director
Steven Bernard Pfeiffer Independent Director
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