Wait, don't miss out on the latest GovCon industry news!

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings

*By clicking "Join us now" you agree to receive email, promotions and general messages from GovCon Wire, In addition, you also agree to GovCon Wire Privacy Policy and Terms & Conditions.

X Remind me Later

Matt Desch: Iridium Eyes ‘Capex Holiday’ Amid Record Quarterly Revenue Increase

Matt Desch

TYSONS CORNER, VA, August 22, 2018 — Iridium Communications (Nasdaq: IRDM) CEO Matt Desch has said in an earnings call the company plans to take a 10-year “capex holiday” after it completes the $3B Iridium NEXT satellite constellation this year, ExecutiveBiz reported Aug. 7.

Space News reported Aug. 6 that the news comes after Iridium posted $135M in quarterly revenue — or a record 21-percent increase from the same period last year — as it prepares to launch the last batch of Iridium NEXT satellites, after which the company aims to limit annual spending to $35M.

“Our network is very flexible, and our new satellites have been designed to support the growth and market opportunities we see in the future,” Desch, a four-time Wash100 awardee, told investors.

About Executive Mosaic: Founded in 2002, Executive Mosaic is a leadership organization and media company. Executive Mosaic offers highly coveted executive events, breaking business news on the Government Contracting industry, and robust and reliable content through seven influential websites and four consequential E-newswires. Headquarters are located in Tysons Corner, VA. www.executivemosaic.com

Contact:
Jason Scott
(703) 226-7003
[email protected]

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about Press Releases

Related Articles