Iridium Satellite LLC released its operating and financial results for the 2nd quarter 2009. Although the number of subscribers rose by healthy 23.9% to 347,000 (compared to the same period of 2008), the revenue remained flat, growing by just 1.2% to $82.7 million. Still, the net income jumped by more than 50% to $28.6 million, which is quite impressive.
By attracting new subscribers and releasing new products and services (such as the Iridium 9555 handset and the OpenPort maritime communications system) in the last several quarters, Iridium is going to be well positioned to enjoy recovery in the global economic climate.
This coming December, Katie Spotz, a young American from Ohio, will undertake a solo row across the Atlantic Ocean. After 2,500 miles and 70-100 days at sea, she will become the youngest person ever to row an ocean solo and the first American to row from Africa to South America. With this endeavor Katie promotes safe drinking water projects around the world, that’s why her row is named Row For Water.
Besides other equipment on the boat, she will have an Iridium 9505A satellite phone for communicating with the land crew, updating her event blog and, of course, for any emergency situation (which we all hope won’t happen). So keep tuned to Katie’s blog and Twitter account for updates! Good luck, Katie!