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


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Iridium Communications : Adds Industry Powerhouse Intellian to Certus® Maritime Portfolio

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10/21/2019 | 08:26pm EST

Iridium Adds Industry Powerhouse Intellian to Iridium Certus® Maritime Portfolio

MCLEAN, Va., Oct. 21, 2019/PRNewswire / -- Iridium Communications Inc. (NASDAQ: IRDM) today announced Intellian as the newest manufacturer of Iridium CertusTM maritime terminals. Intellian is introducing the C700 terminal which will enable a variety of applications including safety, bridge and crew welfare communications, connected ship IoT capabilities like engine monitoring and remote diagnostics, as well as situational awareness reports.

Developed for Iridium's global network and designed to provide the fastest L-band broadband service in the industry, the C700 will deliver up to 352kbps transmission and 704kbps reception speeds through the Iridium Certus platform. Its 12-element patch technology also ensures seamless connectivity, even in adverse weather or environments.

Eric Sung, CEO of Intellian, said: 'Iridium and Intellian have worked closely together to develop our C700 Iridium Certus antenna, and we are proud to now reveal this product to the world. We expect that the new C700 will provide enhanced safety and communications services at sea, delivering added value to our customers.'

Intellian's C700 terminal takes full advantage of the new capabilities made possible by Iridium Certus. It is designed to meet the needs of tankers, container ships, workboats, cruise and ferry lines - even leisure craft - creating a truly agile and adaptable new maritime satcom system.

Iridium Certus offers a unique opportunity to develop both terminals and applications with the advantage of a truly global network which supports engineering small form factor, cost-effective hardware to provide a new, superior choice for the maritime industry. As an L-band network, Iridium® is uniquely positioned to provide safety services, including those for the Global Maritime Distress and Safety System (GMDSS), expected in early 2020.

'Intellian brings years of world-class engineering, performance and industry leadership to the Iridium Certus product portfolio, and Iridium Certus enables Intellian to create new products without the borders and limitations of other networks,' said Wouter Deknopper, vice president and general manager of maritime, Iridium. 'This is an exciting time to add such a respected industry name to the Iridium partner family, and we look forward to the terminal becoming commercially available in the first half of 2020.'

Iridium operates the only satellite constellation that offers truly global coverage, from pole to pole. In February of 2019, the company completed a $3 billion(USD) upgrade of its network, launching 75 new satellites into Low Earth Orbit (LEO), with 66 in the operational constellation and nine serving as on-orbit spares. The constellation's unique crosslinked architecture enables real-time communication from any point on the Earth, making it the network of choice for critical communications and safety of life services.

For more information about Iridium, visit: www.iridium.com

About 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. The company has recently completed its next-generation 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.

Forward Looking Statements

Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this press release include statements regarding the timing of introduction, capabilities and benefits of products and services enabled by the Iridium constellation, including safety services and Iridium Certus. Forward-looking statements can be identified by the words 'anticipates,' 'may,' 'can,' 'believes,' 'expects,' 'projects,' 'intends,' 'likely,' 'will,' 'to be' and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding the development and functionality of Iridium services, and the company's ability to maintain the health, capacity and content of its satellite constellation, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption 'Risk Factors' in the Company's Form 10-K for the year ended December 31, 2018, filed with the Securities and Exchange Commission (the 'SEC') on February 28, 2019, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium's expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium's underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium's forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.

SOURCE Iridium Communications Inc.


Iridium Communications Inc. published this content on 21 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 October 2019 00:24:06 UTC

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Financials (USD)
Sales 2019 560 M
EBIT 2019 10,4 M
Net income 2019 -76,3 M
Debt 2019 1 514 M
Yield 2019 -
P/E ratio 2019 -45,2x
P/E ratio 2020 -66,2x
EV / Sales2019 8,73x
EV / Sales2020 7,97x
Capitalization 3 375 M
Duration : Period :
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Mean consensus OUTPERFORM
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Average target price 30,75  $
Last Close Price 25,80  $
Spread / Highest target 27,9%
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Matthew J. Desch Chief Executive Officer & Director
Robert H. Niehaus Chairman
Suzanne E. McBride Chief Operating Officer
Thomas J. Fitzpatrick Director, Chief Financial & Administrative Officer
Steven Bernard Pfeiffer Independent Director
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