Iridium says revenue/subscribers are up

BETHESDA, Md. - Mobile satellite communication services supplier Iridium Satellite LLC, has reported a 19 percent increase in the company's total number of subscribers, as of March 31, over the 2004 first quarter total, and said in a recent release that 1Q 2005 revenue increased by 26 percent over total revenue for the same quarter last year.

“Iridium's revenue and subscriber growth, and strong first quarter profits, reflect the results of a vertical market strategy penetrating key markets such as maritime, defense/government services and aviation,” said Carmen Lloyd, the company's chairman and CEO. “With continuing success of this strategy, we foresee continued profitability.

“Not only do we see continued profitability and strong free cash flow. We also expect no major capital expenditures for the next five years as we continue to grow our business, and invest in new and innovative products and services.”

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