Iridium Satellite LLC has announced record-setting financial results for their Q1 ended March 31, 2008. Revenue was $74.3 million versus $52.7 million in the same quarter last year, a 41 percent increase. First quarter EBITDA of $24.4 million was 80 percent greater than EBITDA in the first quarter 2007, which totaled $13.6 million. As of March 31, 2008, Iridium surpassed 250,000 subscribers worldwide, a 37 percent increase over the first quarter 2007 total of 183,000. Iridium continued strong growth in the machine-to-machine (M2M) market during the first quarter. The company’s total number of short-burst data (SBD) subscribers increased 169 percent over first quarter 2007. The company also posted significant increases over first quarter 2007 in voice and data traffic. Traffic in the U.S. and Canada was up almost 100 percent and up 61 percent in the Australia/Asia-Pacific region. The complete financial release here…—Bethesda, Maryland
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