Key Developments: Iridium Communications Inc (IRDM.OQ)

IRDM.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Iridium Communications Inc Lowers Prior FY 2013 OEBITDA Guidance
7:02am EDT 

Iridium Communications Inc announced that for fiscal 2013 total service revenue growth between 6% and 8%. For fiscal 2013 OEBITDA to be approximately $210 million. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $207 million for fiscal 2013.  Full Article

Iridium Communications Inc Reaffirms FY 2013 OEBITDA Guidance
Thursday, 2 May 2013 07:02am EDT 

Iridium Communications Inc reaffirmed fiscal 2013 OEBITDA to be between $215 million and $225 million.  Full Article

Iridium Communications Inc Issues FY 2013 OEBITDA Guidance In Line With Analysts' Estimates
Thursday, 28 Feb 2013 07:00am EST 

Iridium Communications Inc announced that for fiscal 2013, it expects OEBITDA to be between $215 million and $225 million. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $218 million for fiscal 2013.  Full Article

World Reach Ltd's Subsidiary Enters Into Strategic Product Development Initiative With Iridium Communications
Thursday, 29 Nov 2012 06:04pm EST 

World Reach Ltd announced that its wholly owned subsidiary, Beam Communications Pty Limited (Beam), has entered into a strategic product development initiative with Iridium Communications (NASDAQ:IRDM). The agreement signed by the two companies defines a new product development initiative for which Beam Communications will be the Primary Contractor and Original Equipment Manufacturer of the end customer solution. The prospective launch of the product will be in the second half of fiscal 2013.  Full Article

Iridium Communications Inc Reaffirms FY 2012 OEBITDA Outlook
Thursday, 1 Nov 2012 07:05am EDT 

Iridium Communications Inc affirmed fiscal 2012 outlook for OEBITDA and expects OEBITDA between $205 million and $210 million.  Full Article

Iridium Communications Inc Secures Contract From Defense Information Systems Agency Worth Up to $47 Million
Wednesday, 31 Oct 2012 07:00am EDT 

Iridium Communications Inc announced that it has been awarded a five-year indefinite-delivery/indefinite-quantity (IDIQ) contract from the Defense Information Systems Agency (DISA) to upgrade the Defense Department's dedicated Iridium gateway. The IDIQ contract has a one-year base period and four one-year options, and has a maximum value of $47 million over the full five-year period.  Full Article

Iridium Communications Inc Prices $100 Million Private Offering of 7% Series A Cumulative Perpetual Convertible Preferred Stock
Friday, 28 Sep 2012 08:00am EDT 

Iridium Communications Inc announced that it has priced a private offering of 1,000,000 shares of 7% Series A Cumulative Perpetual Convertible Preferred Stock, with a liquidation preference of $100 per share (the Preferred Stock). The Preferred Stock will be sold in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and to other qualified investors in reliance on Regulations under the Securities Act. The sale of the Preferred Stock is expected to close on October 3, 2012. Holders of the Preferred Stock will be entitled to receive cumulative cash dividends, if and when declared by Iridium's board of directors, accruing at a rate of 7% per annum (equivalent to an annual rate of $7.00 per share). The dividend on each share of Preferred Stock is payable quarterly in arrears, commencing on December 15, 2012.  Full Article

Iridium Communications Inc. Lowers FY 2012 EBITDA Guidance
Thursday, 2 Aug 2012 07:00am EDT 

Iridium Communications Inc. updated its projections for fiscal 2012 OEBITDA. For fiscal 2012, the Company now expects operational EBITDA (OEBITDA) in the range of $205 million to $210 million.  Full Article

Iridium Communications Inc. Reaffirms FY 2012 EBITDA Guidance
Thursday, 3 May 2012 07:01am EDT 

Iridium Communications Inc. reaffirmed fiscal 2012 OEBITDA to be between $210 million and $220 million.  Full Article

Iridium Communications Inc. Issues FY 2012 EBITDA Guidance Above Analysts' Estimates
Tuesday, 6 Mar 2012 07:00am EST 

Iridium Communications Inc. announced that for fiscal 2012, it expects OEBITDA (EBITDA) to be between $210-$220 million. According to I/B/E/S Estimates, analysts were expecting the Company to report EBITDA of $208 million for fiscal 2012.  Full Article

Iridium, Harris upbeat on aircraft-tracking venture

COLORADO SPRINGS, Colorado - Satellite operator Iridium Communications and Harris Corp on Wednesday said a new space-based aircraft-tracking venture will save airlines money, but also holds promise for the U.S. military, which is facing a sharp downturn in spending in coming years.

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