[Satellite TODAY 08-11-10] Iridium Communications saw its billable subscriber base grow 16.8 percent to about 383,000 in its 2010 second quarter, with growth coming from several of its product areas, the mobile operator announced in its latest financial results, issued Aug. 10.
     Iridium’s commercial service revenue increased 13.8 percent to $45.5 million in the second quarter compared to $40.0 million during the second quarter of 2009. The operator’s government voice and machine-to-machine (M2M) data service revenue also increased 7.1 percent to $14.2 million. Subscriber equipment revenue for the second quarter decreased to $20.3 million from the $24.6 million reported in the second quarter of 2009 due to a global parts supply issue that delayed some shipments to customers and a change in the mix of equipment sales to lower-cost M2M devices,
     Iridium’s total revenue increased from $82.7 million in the second quarter of 2009 to $84.0 million in 2010 – representing a 4.6 percent increase over its standing halfway through the previous year.
     Non-cash expenses of $11.8 million, which were related to purchase accounting adjustments in GHL Acquisition Corp.’s acquisition of Iridium Holdings, caused the company’s second quarter net income to fall to $3.2 million compared to net income of $28.6 million in the second quarter of 2009.

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