MCLEAN, Va. and MOSCOW, May 12, 2010 -- Iridium Communications Inc. (Nasdaq:IRDM), the world's only mobile satellite services (MSS) operator with truly global coverage, announces an important advancement in its pursuit of regulatory compliance to enter the Russian Market.
In May 2009, Iridium announced that it formed a company called, "Iridium Communications Russia, OOO" to pursue a license for providing MSS services in Russia. For the second year, Iridium is exhibiting at Sviaz-Expocomm, Russia's largest telecommunications industry trade show in Moscow, May 11-15. In April 2010, the Russian Government Commission Expert Opinion approved Iridium's entry in to the Russian market.
The Iridium low-earth orbiting (LEO) satellite constellation covers the entire planet and provides services where no other means of communication exist. Iridium sees an opportunity to provide an essential service in Russia, particularly given the extensive, open land masses without telecommunications infrastructure in the country, in addition to Russia's harsh climates and northern sea routes where only Iridium has coverage. Iridium is the only MSS service that works in the Arctic Regions, which is particularly important for maritime organizations that need to meet government regulatory obligations to have reliable long-range identification and tracking (LRIT) devices and distress safety systems on vessels. In addition, aircraft must rely on flight communications systems for safety while flying Polar routes.
Iridium offers Russian citizens living, working and traveling in rural territories a reliable telecommunications service in order to stay connected. The company's services are in demand in market sectors within Russia such as emergency response, civil government, oil and gas, mining, rail and internal waterways.
Matt Desch, Iridium CEO said, "We are looking forward to seeing Iridium become a part of the Russian telecom market - a vibrant market that is open to the type of innovation Iridium delivers. Strong demand for Iridium services in Russia has driven and underpinned our efforts in resuming activities in the country and we continue to work diligently with the Russian authorities to complete this effort."
At Sviaz-Expocomm 2010, Iridium is showcasing its innovative product portfolio, including the Iridium 9555™ satellite phone; Iridium OpenPort®, an enhanced-speed maritime communications service; and the Iridium 9602™ short burst data transceiver that Iridium recently launched for global asset tracking and monitoring. The Iridium 9602 offers a smaller, lower-cost transceiver than what has been available on the market and offers the only global, low-latency, two-way satellite data communications service.
Khrunichev State Research and Production Space Center has been a key Iridium partner since 2001 when the two companies signed a collaborative agreement to work together to advance the process to make Iridium services available in Russia. Khrunichev owns an Iridium gateway and discussions are underway for gateway modernization and operations.
Iridium also plans to selectively expand its network of more than 200 global distribution partners by adding new service providers in the Russian market. The company's partner ecosystem expansion plans will enable delivery of the full portfolio of Iridium products and services to the Russian market.
About Iridium Communications Inc.
Iridium Communications Inc. (www.iridium.com) is the only mobile satellite service (MSS) company offering coverage over the entire globe. The Iridium constellation of low-earth orbiting (LEO) cross-linked satellites provides critical voice and data services for areas not served by terrestrial communication networks. Iridium serves commercial markets through a worldwide network of distributors, and provides services to the U.S. Department of Defense and other U.S. and international government agencies. The Company's customers represent a broad spectrum of industry, including maritime, aeronautical, government/defense, public safety, utilities, oil/gas, mining, forestry, heavy equipment and transportation. Iridium has launched a major development program for its next-generation satellite constellation, Iridium NEXT. The company is headquartered in McLean, Va., U.S.A. and trades on the NASDAQ Global Market under the ticker symbols IRDM (common stock), IRDMW ($7.00 warrants), IRDMZ ($11.50 warrants) and IRDMU (units).
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. Forward-looking statements include statements regarding Iridium NEXT. Other 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 Iridium's ability to offer services in Russia and to expand its business through the addition of new service providers in the Russian Market, 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, 2009, filed with the Securities and Exchange Commission on March 16, 2010. 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's forward-looking statements speak only as of the date of this press release and Iridium undertakes no obligation to update forward-looking statements.
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