Iridium Updates Outlook
Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today updated its full-year 2013 and long-range financial 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.
10% to 15%
6% to 8%
Approximately $210 million
$200 million to $205 million
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.
Non-GAAP Financial Measures & Definitions
In addition to disclosing financial results that are determined in accordance with U.S. GAAP, the