Loss of Two Satellites Doesn’t Stop Iridium Beating Analyst’s Expectations

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A combined income stream of $107.5 million has been reported by Iridium, outperforming most analysts’ forecasts for the 2014 third quarter. Additionally, in-orbit spares were utilised to replace two satellites during the accounting period, which leaves one spare for the period leading to Iridium NEXT’s launch.

Iridium’s CEO, Matt Desch stated that the ongoing network is showing good performance, and that throughout the previous five years the business has managed to average approximately one replacement for each twelve month period. He stated that the company is right on target by having one remaining spare as they approach 2015.

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