MCLEAN, Va., April 22, 2019 /PRNewswire/ -- Iridium Communications Inc. (NASDAQ: IRDM) announced today that it has been awarded a new contract by the Defense Information Systems Agency (DISA) to continue supporting the U.S. Department of Defense (DoD) Enhanced Mobile Satellite Service (EMSS) gateway. The contract, valued at $54 million over 4.5 years, for Gateway Maintenance and Support Service (GMSS), will ensure that this dedicated ground site continues to operate at peak efficiency and in optimal condition for critical U.S. DoD missions.
Dedicated for use by the U.S. DoD, their Iridium gateway serves as the uplink and downlink point for the DoD's EMSS communications capabilities through the Iridium® network. This includes the enhanced capabilities made possible by Iridium's upgraded satellite constellation, which was formally completed and declared fully operational in February of this year.
"This new contract provides the mechanism for Iridium to help ensure the DoD gateway is able to fully support the new capabilities and services needed to meet the emerging requirements of the warfighter," said Scott Scheimreif, executive vice president of government programs, Iridium. "It is yet another example of the strategic, long-term relationship between Iridium and the U.S. Department of Defense. We remain committed to the U.S. DoD and the warfighter as we explore new ways for addressing critical requirements leveraging our unique satellite network."
The previous iteration of the GMSS contract was awarded in October of 2013 for a five-year term with a six-month extension option. The subscribers operating under the Iridium EMSS program run by DISA have more than doubled over the five-year period between 2013 and 2018 to 113,000, reflecting a 17.25% compounded annual growth rate. This surge in growth has occurred under the current flat-rate contract program that provides unlimited voice and data services to the U.S. warfighter and other government participants.
For more information about Iridium, visit: www.iridium.com
About Iridium Communications Inc.
Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. The company has recently completed its next-generation satellite network and launched its new specialty broadband service, Iridium CertusSM. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.
Forward Looking Statements
Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this press release include statements regarding the term and value to Iridium of the GMSS contract. Forward-looking statements can be identified by the words "anticipates," "may," "can," "believes," "expects," "projects," "intends," "likely," "will," "to be" and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding the company's ability to maintain the health, capacity and content of its satellite constellation, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2018, filed with the Securities and Exchange Commission (the "SEC") on February 28, 2019, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium's expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium's underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium's forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.
Iridium Communications Inc.
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