Intrinsic value of Iridium Communications - IRDM

Previous Close

$19.26

  Intrinsic Value

$3.49

stock screener

  Rating & Target

str. sell

-82%

Previous close

$19.26

 
Intrinsic value

$3.49

 
Up/down potential

-82%

 
Rating

str. sell

We calculate the intrinsic value of IRDM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  20.90
  19.31
  17.88
  16.59
  15.43
  14.39
  13.45
  12.60
  11.84
  11.16
  10.54
  9.99
  9.49
  9.04
  8.64
  8.27
  7.95
  7.65
  7.39
  7.15
  6.93
  6.74
  6.57
  6.41
  6.27
  6.14
  6.03
  5.92
  5.83
  5.75
Revenue, $m
  542
  646
  762
  888
  1,025
  1,173
  1,331
  1,498
  1,676
  1,863
  2,059
  2,265
  2,480
  2,704
  2,938
  3,181
  3,433
  3,696
  3,969
  4,253
  4,548
  4,854
  5,173
  5,504
  5,850
  6,209
  6,583
  6,973
  7,380
  7,804
Variable operating expenses, $m
  321
  382
  449
  523
  603
  689
  781
  878
  982
  1,091
  1,200
  1,320
  1,445
  1,576
  1,712
  1,854
  2,001
  2,154
  2,313
  2,479
  2,651
  2,829
  3,015
  3,208
  3,409
  3,619
  3,837
  4,064
  4,301
  4,548
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  321
  382
  449
  523
  603
  689
  781
  878
  982
  1,091
  1,200
  1,320
  1,445
  1,576
  1,712
  1,854
  2,001
  2,154
  2,313
  2,479
  2,651
  2,829
  3,015
  3,208
  3,409
  3,619
  3,837
  4,064
  4,301
  4,548
Operating income, $m
  221
  265
  313
  366
  423
  484
  550
  620
  694
  772
  859
  945
  1,035
  1,128
  1,225
  1,327
  1,432
  1,542
  1,656
  1,774
  1,897
  2,025
  2,158
  2,296
  2,440
  2,590
  2,746
  2,909
  3,079
  3,256
EBITDA, $m
  373
  445
  524
  611
  706
  807
  916
  1,031
  1,153
  1,282
  1,417
  1,559
  1,707
  1,861
  2,022
  2,189
  2,363
  2,544
  2,732
  2,927
  3,130
  3,341
  3,560
  3,788
  4,026
  4,273
  4,530
  4,799
  5,079
  5,371
Interest expense (income), $m
  23
  92
  115
  142
  171
  203
  237
  274
  314
  357
  401
  449
  498
  550
  604
  661
  720
  781
  845
  911
  980
  1,052
  1,126
  1,203
  1,284
  1,367
  1,454
  1,545
  1,639
  1,738
  1,840
Earnings before tax, $m
  129
  149
  171
  195
  220
  247
  276
  306
  337
  371
  410
  447
  485
  524
  565
  607
  651
  697
  745
  794
  846
  899
  955
  1,013
  1,073
  1,136
  1,201
  1,270
  1,341
  1,415
Tax expense, $m
  35
  40
  46
  53
  59
  67
  74
  83
  91
  100
  111
  121
  131
  141
  152
  164
  176
  188
  201
  214
  228
  243
  258
  273
  290
  307
  324
  343
  362
  382
Net income, $m
  94
  109
  125
  142
  161
  180
  201
  223
  246
  271
  300
  326
  354
  382
  412
  443
  475
  509
  544
  580
  617
  656
  697
  739
  783
  829
  877
  927
  979
  1,033

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,232
  5,049
  5,952
  6,939
  8,010
  9,163
  10,395
  11,705
  13,092
  14,553
  16,087
  17,695
  19,374
  21,126
  22,950
  24,849
  26,824
  28,876
  31,009
  33,225
  35,529
  37,924
  40,414
  43,004
  45,699
  48,506
  51,430
  54,477
  57,654
  60,968
Adjusted assets (=assets-cash), $m
  4,232
  5,049
  5,952
  6,939
  8,010
  9,163
  10,395
  11,705
  13,092
  14,553
  16,087
  17,695
  19,374
  21,126
  22,950
  24,849
  26,824
  28,876
  31,009
  33,225
  35,529
  37,924
  40,414
  43,004
  45,699
  48,506
  51,430
  54,477
  57,654
  60,968
Revenue / Adjusted assets
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
  0.128
Average production assets, $m
  3,670
  4,379
  5,162
  6,019
  6,947
  7,947
  9,016
  10,152
  11,355
  12,622
  13,953
  15,347
  16,803
  18,323
  19,905
  21,552
  23,265
  25,045
  26,895
  28,817
  30,815
  32,892
  35,052
  37,298
  39,636
  42,071
  44,606
  47,249
  50,005
  52,879
Working capital, $m
  -142
  -170
  -200
  -234
  -270
  -308
  -350
  -394
  -441
  -490
  -542
  -596
  -652
  -711
  -773
  -837
  -903
  -972
  -1,044
  -1,119
  -1,196
  -1,277
  -1,360
  -1,448
  -1,538
  -1,633
  -1,731
  -1,834
  -1,941
  -2,052
Total debt, $m
  2,134
  2,623
  3,163
  3,753
  4,394
  5,083
  5,820
  6,603
  7,432
  8,306
  9,224
  10,185
  11,189
  12,237
  13,328
  14,463
  15,644
  16,871
  18,147
  19,472
  20,850
  22,282
  23,771
  25,320
  26,932
  28,610
  30,358
  32,180
  34,080
  36,062
Total liabilities, $m
  2,531
  3,019
  3,559
  4,150
  4,790
  5,479
  6,216
  7,000
  7,829
  8,703
  9,620
  10,581
  11,586
  12,633
  13,724
  14,860
  16,041
  17,268
  18,543
  19,869
  21,246
  22,678
  24,167
  25,716
  27,328
  29,007
  30,755
  32,577
  34,477
  36,459
Total equity, $m
  1,701
  2,030
  2,393
  2,790
  3,220
  3,683
  4,179
  4,706
  5,263
  5,850
  6,467
  7,113
  7,788
  8,492
  9,226
  9,989
  10,783
  11,608
  12,466
  13,357
  14,283
  15,245
  16,246
  17,288
  18,371
  19,499
  20,675
  21,900
  23,177
  24,509
Total liabilities and equity, $m
  4,232
  5,049
  5,952
  6,940
  8,010
  9,162
  10,395
  11,706
  13,092
  14,553
  16,087
  17,694
  19,374
  21,125
  22,950
  24,849
  26,824
  28,876
  31,009
  33,226
  35,529
  37,923
  40,413
  43,004
  45,699
  48,506
  51,430
  54,477
  57,654
  60,968
Debt-to-equity ratio
  1.250
  1.290
  1.320
  1.350
  1.360
  1.380
  1.390
  1.400
  1.410
  1.420
  1.430
  1.430
  1.440
  1.440
  1.440
  1.450
  1.450
  1.450
  1.460
  1.460
  1.460
  1.460
  1.460
  1.460
  1.470
  1.470
  1.470
  1.470
  1.470
  1.470
Adjusted equity ratio
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402
  0.402

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  94
  109
  125
  142
  161
  180
  201
  223
  246
  271
  300
  326
  354
  382
  412
  443
  475
  509
  544
  580
  617
  656
  697
  739
  783
  829
  877
  927
  979
  1,033
Depreciation, amort., depletion, $m
  152
  180
  211
  246
  283
  323
  366
  411
  459
  510
  558
  614
  672
  733
  796
  862
  931
  1,002
  1,076
  1,153
  1,233
  1,316
  1,402
  1,492
  1,585
  1,683
  1,784
  1,890
  2,000
  2,115
Funds from operations, $m
  246
  289
  336
  388
  444
  503
  567
  634
  706
  781
  858
  940
  1,026
  1,115
  1,208
  1,305
  1,406
  1,511
  1,619
  1,732
  1,850
  1,972
  2,099
  2,231
  2,369
  2,512
  2,661
  2,817
  2,979
  3,148
Change in working capital, $m
  -25
  -28
  -30
  -33
  -36
  -39
  -41
  -44
  -47
  -49
  -52
  -54
  -57
  -59
  -61
  -64
  -66
  -69
  -72
  -75
  -78
  -81
  -84
  -87
  -91
  -94
  -98
  -103
  -107
  -112
Cash from operations, $m
  271
  317
  367
  421
  480
  542
  608
  678
  752
  830
  909
  994
  1,082
  1,174
  1,270
  1,369
  1,473
  1,580
  1,691
  1,807
  1,927
  2,053
  2,183
  2,318
  2,459
  2,606
  2,760
  2,919
  3,086
  3,260
Maintenance CAPEX, $m
  -121
  -147
  -175
  -206
  -241
  -278
  -318
  -361
  -406
  -454
  -505
  -558
  -614
  -672
  -733
  -796
  -862
  -931
  -1,002
  -1,076
  -1,153
  -1,233
  -1,316
  -1,402
  -1,492
  -1,585
  -1,683
  -1,784
  -1,890
  -2,000
New CAPEX, $m
  -635
  -709
  -783
  -856
  -929
  -1,000
  -1,069
  -1,136
  -1,203
  -1,267
  -1,331
  -1,394
  -1,457
  -1,519
  -1,583
  -1,647
  -1,713
  -1,780
  -1,850
  -1,922
  -1,998
  -2,077
  -2,160
  -2,247
  -2,338
  -2,434
  -2,536
  -2,643
  -2,756
  -2,875
Cash from investing activities, $m
  -756
  -856
  -958
  -1,062
  -1,170
  -1,278
  -1,387
  -1,497
  -1,609
  -1,721
  -1,836
  -1,952
  -2,071
  -2,191
  -2,316
  -2,443
  -2,575
  -2,711
  -2,852
  -2,998
  -3,151
  -3,310
  -3,476
  -3,649
  -3,830
  -4,019
  -4,219
  -4,427
  -4,646
  -4,875
Free cash flow, $m
  -486
  -539
  -591
  -642
  -690
  -736
  -778
  -819
  -856
  -892
  -926
  -958
  -988
  -1,017
  -1,046
  -1,074
  -1,102
  -1,131
  -1,160
  -1,191
  -1,223
  -1,257
  -1,292
  -1,330
  -1,370
  -1,413
  -1,459
  -1,508
  -1,560
  -1,615
Issuance/(repayment) of debt, $m
  431
  489
  540
  591
  640
  689
  737
  784
  829
  874
  918
  961
  1,004
  1,048
  1,091
  1,135
  1,181
  1,227
  1,275
  1,325
  1,378
  1,432
  1,489
  1,549
  1,612
  1,678
  1,748
  1,822
  1,900
  1,982
Issuance/(repurchase) of shares, $m
  196
  219
  238
  255
  270
  283
  294
  304
  311
  317
  317
  320
  321
  322
  321
  320
  318
  316
  314
  311
  309
  306
  304
  302
  300
  299
  298
  298
  298
  299
Cash from financing (excl. dividends), $m  
  627
  708
  778
  846
  910
  972
  1,031
  1,088
  1,140
  1,191
  1,235
  1,281
  1,325
  1,370
  1,412
  1,455
  1,499
  1,543
  1,589
  1,636
  1,687
  1,738
  1,793
  1,851
  1,912
  1,977
  2,046
  2,120
  2,198
  2,281
Total cash flow (excl. dividends), $m
  141
  169
  186
  204
  220
  237
  253
  268
  284
  299
  308
  323
  338
  352
  367
  382
  397
  413
  429
  446
  463
  481
  501
  521
  542
  564
  588
  613
  639
  666
Retained Cash Flow (-), $m
  -291
  -329
  -363
  -397
  -430
  -463
  -495
  -527
  -557
  -587
  -617
  -646
  -675
  -704
  -734
  -763
  -794
  -825
  -857
  -891
  -926
  -963
  -1,001
  -1,041
  -1,084
  -1,128
  -1,175
  -1,225
  -1,277
  -1,332
Prev. year cash balance distribution, $m
  186
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  37
  -159
  -176
  -193
  -210
  -227
  -243
  -258
  -274
  -289
  -308
  -323
  -337
  -352
  -367
  -382
  -397
  -412
  -429
  -445
  -463
  -481
  -500
  -521
  -542
  -564
  -588
  -612
  -639
  -666
Discount rate, %
  6.90
  7.25
  7.61
  7.99
  8.39
  8.81
  9.25
  9.71
  10.19
  10.70
  11.24
  11.80
  12.39
  13.01
  13.66
  14.34
  15.06
  15.81
  16.61
  17.44
  18.31
  19.22
  20.18
  21.19
  22.25
  23.37
  24.53
  25.76
  27.05
  28.40
PV of cash for distribution, $m
  34
  -138
  -142
  -142
  -141
  -137
  -131
  -123
  -114
  -104
  -96
  -85
  -74
  -64
  -54
  -45
  -37
  -29
  -23
  -18
  -14
  -10
  -7
  -5
  -4
  -2
  -2
  -1
  -1
  0
Current shareholders' claim on cash, %
  90.6
  82.6
  75.9
  70.3
  65.6
  61.5
  58.1
  55.1
  52.5
  50.2
  48.2
  46.5
  45.0
  43.7
  42.5
  41.4
  40.4
  39.5
  38.8
  38.1
  37.4
  36.8
  36.3
  35.8
  35.3
  34.9
  34.5
  34.1
  33.8
  33.5

Iridium Communications Inc. is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure. As of December 31, 2016, the Company sold its products and services to customers through a wholesale distribution network of approximately 65 service providers, approximately 195 value-added resellers (VARs) and approximately 80 value-added manufacturers (VAMs). The Company's commercial end user base includes markets, such as emergency services, maritime, aviation, government, utilities, oil and gas, mining, recreation, forestry, heavy equipment, construction and transportation.

FINANCIAL RATIOS  of  Iridium Communications (IRDM)

Valuation Ratios
P/E Ratio 16.6
Price to Sales 4.3
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow 8.2
Price to Free Cash Flow -10.2
Growth Rates
Sales Growth Rate 5.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -18%
Cap. Spend. - 3 Yr. Gr. Rate 0.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 123.3%
Total Debt to Equity 123.3%
Interest Coverage 9
Management Effectiveness
Return On Assets 3.8%
Ret/ On Assets - 3 Yr. Avg. 2.5%
Return On Total Capital 4%
Ret/ On T. Cap. - 3 Yr. Avg. 2.5%
Return On Equity 8.6%
Return On Equity - 3 Yr. Avg. 5.4%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 74.7%
Gross Margin - 3 Yr. Avg. 73.8%
EBITDA Margin 57.6%
EBITDA Margin - 3 Yr. Avg. 47.5%
Operating Margin 40.8%
Oper. Margin - 3 Yr. Avg. 29.5%
Pre-Tax Margin 41%
Pre-Tax Margin - 3 Yr. Avg. 29%
Net Profit Margin 25.6%
Net Profit Margin - 3 Yr. Avg. 15.2%
Effective Tax Rate 37.6%
Eff/ Tax Rate - 3 Yr. Avg. 54.5%
Payout Ratio 13.5%

IRDM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IRDM stock intrinsic value calculation we used $448.046 million for the last fiscal year's total revenue generated by Iridium Communications. The default revenue input number comes from 0001 income statement of Iridium Communications. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our IRDM stock valuation model: a) initial revenue growth rate of 20.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.9%, whose default value for IRDM is calculated based on our internal credit rating of Iridium Communications, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Iridium Communications.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of IRDM stock the variable cost ratio is equal to 59.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for IRDM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Iridium Communications.

Corporate tax rate of 27% is the nominal tax rate for Iridium Communications. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the IRDM stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for IRDM are equal to 677.6%.

Life of production assets of 25 years is the average useful life of capital assets used in Iridium Communications operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for IRDM is equal to -26.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1596.469 million for Iridium Communications - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 110.753 million for Iridium Communications is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Iridium Communications at the current share price and the inputted number of shares is $2.1 billion.

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COMPANY NEWS

▶ The Ocean Cleanup chooses Iridium   [08:01AM  PR Newswire]
▶ 3 Top Stocks Wall Street Is Overlooking   [Aug-23-18 12:48PM  Motley Fool]
▶ Iridium Communications Stock Is Ready to Blast Into Orbit   [Aug-07-18 01:11PM  InvestorPlace]
▶ Iridium is defying expectations. Can anything bring it back to Earth?   [Aug-01-18 02:23PM  American City Business Journals]
▶ Iridium: 2Q Earnings Snapshot   [08:08AM  Associated Press]
▶ SpaceX catches rocket booster in rough weather, misses payload fairing   [Jul-25-18 12:50PM  American City Business Journals]
▶ Iridium-7 Target Launch Date Announced   [Jun-15-18 08:01AM  PR Newswire]
▶ Why Iridium Communications, Inc. Stock Jumped Friday   [Jun-01-18 11:55AM  Motley Fool]
▶ IBD Rating Upgrades: Iridium Communications Shows Improved Price Strength   [May-24-18 03:00AM  Investor's Business Daily]
▶ NASA, Iridium carpooled on Tuesdays SpaceX mission   [May-22-18 05:41PM  American City Business Journals]
▶ Iridium Makes Maritime Industry History   [May-21-18 04:28PM  GlobeNewswire]
▶ Iridium Communications Rockets Into a New Era of Telecom   [May-09-18 09:45PM  Motley Fool]
▶ Iridium: 1Q Earnings Snapshot   [09:33AM  Associated Press]
▶ SpaceX launches 10 Iridium satellites from California   [Mar-30-18 04:34PM  Associated Press]
▶ This One Metric Is Why I Own Iridium Communications   [Mar-14-18 11:18AM  Motley Fool]
▶ Iridium Makes Progress Toward a Brighter 2018   [Feb-22-18 11:18AM  Motley Fool]
▶ Iridium misses 4Q profit forecasts   [10:15AM  Associated Press]
▶ Iridium to Participate at March Conferences   [Feb-16-18 04:01PM  GlobeNewswire]

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