Iridium issues 2005 mid-year report

BETHESDA, Md. – Iridium Satellite LLC, a mobile satellite communication services supplier, has approximately 127,000 subscribers as of June 30. This is a 20-percent increase over its total number of subscribers at mid-year 2004, the company reported in a statement yesterday.

The new total also represents an 11-percent increase over the 114,000 subscribers Iridium reported as of December 31, 2004. Revenue for the first six months of 2005 increased 27 percent over total revenue for the same period last year.

“Through the first six months of this year, Iridium met or exceeded its targets for subscribers, revenue and profitability,” said Carmen Lloyd, Iridium’s chairman and chief executive officer. “We are on track with our business plan for the network, which places emphasis on adding integrated voice and data subscribers in key vertical markets. In particular, we expect to see continued strong demand for mission-critical, embedded application services by our maritime, aviation and defense customers. And, our commercial subscriber base has grown significantly - now roughly four times as large as our defense subscriber base.”

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