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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Iridium Communications Inc.    IRDM

IRIDIUM COMMUNICATIONS INC.

(IRDM)
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Iridium Communications : Edge® Pro Brings Programmable Intelligence to Asset Management Beyond Terrestrial Coverage

09/29/2020 | 07:10am EST

MCLEAN, Va., Sept. 29, 2020/PRNewswire/ -- Iridium Communications Inc. (NASDAQ: IRDM) today announced commercial availability of its newest standalone asset management device, Iridium Edge Pro. The latest addition to the Iridium Edge family of products, Iridium Edge Pro is the company's first programmable solution for asset management, tracking, and recovery. The new device enables Iridium's partners to create customizable end-to-end monitoring solutions for vessels, vehicles and remote equipment using Iridium's best in class two-way network and truly global coverage.

Using MicroEJ® Java-based software development tools, Iridium® IoT customers can create new end-user applications quickly and test them virtually, which can reduce the time to produce a fielded solution. The built in geofencing and custom messaging tools are convenient building blocks for a wide range of IoT applications like vessel monitoring system (VMS) solutions for fisheries, cathodic protection, long-haul vehicle telematics, refrigerated container monitoring, electric generator (genset) management and more. Through powerful Java programming, the Iridium Edge Pro collects and processes data based on operational requirements, including exception-only reporting that can minimize operational costs from anywhere on the planet.

Feature rich, the device comes with built in Bluetooth/BLE, CANbus and Modbus interfaces, GPS, an accelerometer, and digital and analog input/output ports. Customers also have the flexibility to make over-the-air configuration and reporting updates to deployed devices using the Iridium network's two-way communications, giving confidence that wherever in the world their assets are they have full control and visibility.

'With Iridium Edge Pro we now have a trio of out-of-the-box asset management products that serve a wide range of customer needs and applications,' said Bryan Hartin, executive vice president of sales and marketing, Iridium. 'As a programmable device with features like BLE connectivity, Java programming and CANbus protocol integration, we have created a smarter, more innovative and developer-friendly device than anything in the market today. Add in our truly global coverage with real-time two-way communications and it's clear a new standard has been set for the industry.'

The combination of CANbus and traditional Modbus powers newfound flexibility from a satellite IoT device. For example, in the oil and gas industry Iridium Edge Pro's Modbus protocol interfaces with Remote Terminal Units (RTUs) like flow meters. With CANbus, the device is ideal for integration with gensets that may be deployed for oil and gas, construction, mining and other remote heavy equipment applications. In addition, users can take advantage of Iridium Edge Pro's BLE connectivity to pair the device with Bluetooth sensors that collect vital information, and also to connect smartphones, tablets and laptops to ensure, effective onsite maintenance.

As of the second quarter of 2020, Iridium commercial IoT subscribers grew 20% from the year-ago period to 863,000 customers, further cementing the company's place as the premier satellite IoT company. Iridium plans to begin commercial shipping of the Iridium Edge Pro in Q4 2020. Iridium collaborated with development partner MetOcean Telematics to bring the Iridium Edge Pro to market.

For more information about Iridium Edge Pro, visit: www.iridium.com/iridiumedgepro

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. In 2019, the company completed a generational upgrade of its satellite network and launched its new specialty broadband service, Iridium Certus®. 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 timing of introduction, capabilities and benefits of products and services enabled by the Iridium constellation, including the Iridium Edge Pro device. 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 development and functionality of Iridium products and services, and 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, 2019, filed with the Securities and Exchange Commission (the 'SEC') on February 25, 2020, and the Company's Form 10-Q for the quarter ended June 30, 2020, as filed with the SEC on July 28, 2020, 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.

Press Contact:
Jordan Hassin
Iridium Communications Inc.
Jordan.Hassin@Iridium.com
+1 (703) 287-7421
Twitter: @Iridiumcomm

Investor Contact:
Kenneth Levy
Iridium Communications Inc.
Ken.Levy@Iridium.com
+1 (703) 287-7570

SOURCE Iridium Communications Inc.

Disclaimer

Iridium Communications Inc. published this content on 29 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2020 11:09:05 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 577 M - -
Net income 2020 -59,8 M - -
Net Debt 2020 1 404 M - -
P/E ratio 2020 -109x
Yield 2020 -
Capitalization 6 205 M 6 205 M -
EV / Sales 2020 13,2x
EV / Sales 2021 12,2x
Nbr of Employees 505
Free-Float 87,9%
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Iridium Communications Inc. Technical Analysis Chart | IRDM | US46269C1027 | MarketScreener
Technical analysis trends IRIDIUM COMMUNICATIONS INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 34,25 $
Last Close Price 46,55 $
Spread / Highest target -20,5%
Spread / Average Target -26,4%
Spread / Lowest Target -31,3%
EPS Revisions
Managers and Directors
NameTitle
Matthew J. Desch Chief Executive Officer & Director
Robert H. Niehaus Chairman
Suzanne E. McBride Chief Operating Officer & Director
Thomas J. Fitzpatrick Chief Financial & Administrative Officer, Director
Steven Bernard Pfeiffer Independent Director
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