[Satellite TODAY 03-17-10] Despite reporting strong subscriber and EBITDA growth, Iridium Communications posted a $4.7 million net loss in the 2009 fourth quarter, compared to a $1.5 million profit in 2008, according to Iridium’s latest financial results, released March 16.
    Iridium attributed the loss, in part, to $17 million of expenses related to the purchase price of the GHL Acquisition Corp. transaction, approved by stockholders in September.
    Operational EBITDA increased 17.3 percent to $30.2 million in the fourth quarter copared to $25.8 million in the fourth quarter of 2008, driven primarily by growth in service revenue. For the full year, operational EBITDA was $133.9 million, an increase of 20.5 percent over 2008.
    Iridium commercial service voice and M2M data revenue increased 20.5 percent to $159.6 million in 2008, but total 2009 revenues were down 0.6 percent to $318.9 million. Subscribers were up 15.3 percent to about 369,000 at the close of the fourth quarter, compared to about 320,000 subscribers at end of 2008.
    “The recent earthquakes in Haiti and Chile, where Iridium provided a critical communication lifeline for citizens and more than 65 emergency response organizations, have also contributed to that growth. For example, the Haiti earthquake demonstrated our ability to handle large traffic surges in a very condensed area. At its peak, we saw as much traffic in Haiti as we typically see in the entirety of our highest traffic-generating national region,” CEO Matt Desch said in a statement.