Iridium Communications Inc. (Nasdaq:IRDM)
("Iridium") today updated its full-year 2013 and
long-range financial outlook.
2013 Outlook
The Company updated its full-year 2013 outlook
for total billable subscriber growth, total
service revenue growth and Operational EBITDA
("OEBITDA"). The Company now expects:
Total billable subscriber growth of
approximately 10 percent for the full-year 2013
Total service revenue growth of approximately 6
percent for the full-year 2013
Full-year 2013 OEBITDA between $200 million and
$205 million. OEBITDA for 2012 was $205.8
million. The Company revised its projection for
full-year 2013 OEBITDA primarily due to lower
equipment revenue on reduced overall unit sales
OEBITDA between $200 million and
$205 million. OEBITDA for 2012 was $205.8
million. The Company revised its projection
for full-year 2013 OEBITDA primarily due to
lower equipment revenue on reduced overall
unit sales.
2013 Outlook
2013 Outlook
(August 2013)
(October 2013)
Total Billable
Subscriber Growth
10% to 15%
Approximately
10%
Total Service
Revenue Growth
6% to 8%
Approximately 6%
Operational
EBITDA
(OEBITDA)
Approximately
$210 million
$200 million to
$205 million
Long-Range Outlook
Iridium is also evaluating its long-range
outlook based on the impact of lower equipment
sales, lower subscriber additions and the
long-term revenue potential of its recently
announced Iridium PRIMESM hosted
payload initiative. The Company expects to
announce further details on its long-range
outlook as part of its third-quarter 2013
earnings report on October 31, 2013.
