UPDATE — Joel Schwartz Joins Advanced Cyber Security Center Board of Directors

Mar 5, 2018

UPDATE — Joel Schwartz Joins Advanced Cyber Security Center Board of Directors

BOSTON, March 05, 2018 (GLOBE NEWSWIRE) — The Advanced Cyber Security Center (ACSC) today announced that Joel Schwartz has joined its Board of Directors. A long-time Senior Vice President and most recently, manager of Global New Business Development with Dell EMC, Schwartz brings his experience and perspective as a high-level executive at one of New England’s largest corporations to the ACSC Board.

The ACSC is a collaborative bringing together organizations to solve common cyber security problems across Massachusetts and New England.

“Cyber security is one of the greatest challenges facing businesses and organizations across New England,” said Schwartz, board member, Advanced Cyber Security Center. “I am looking forward to working with other members of the ACSC Board of Directors to help develop policies and programs that will help our membership deploy the best possible defenses.”

Eighteen months ago, Schwartz co-led a cyber-security mission to Israel, sponsored by Combined Jewish Philanthropies, with representatives from Massachusetts government, academic, commercial companies and cyber-security firms in attendance.

Since retiring from Dell EMC in 2016, Schwartz has worked as a new business consultant helping start-ups and VCs on business strategy, scaling, international growth, financing, recruiting, governance and organizational development. He is also a course developer and guest lecturer on Israeli entrepreneurship at both Brandeis University and Worcester Polytechnic Institute (WPI). Dell Technologies (formerly Dell EMC), Brandeis and WPI are all member organizations of the ACSC.

As Senior Vice President and General Manager global new business development at Dell EMC, Schwartz was responsible for the overall strategic direction of EMC’s global new business activities. This included initiating EMC’s R&D efforts in Brazil, Russia, India, China, Singapore, Kazakhstan, Colombia and Mexico, as well as led numerous investments/acquisitions in Israeli companies and joint ventures in China. Prior to this role, Joel headed EMC’s Clariion Division, growing its revenues from $500M to $2B in five years.

In addition to the ACSC Board of Directors, Schwartz also sits on the board of directors for the Finca Vigia Foundation helping Cuba restore Hemingway’s estate there, the Overseers of the Brandeis International Business School, the Board of Advisors at WPI’s Foise Business School, The International Visiting Committee of Case Western Reserve, Board of Advisors to Mass Challenge Israel and the Board of Advisors of Israel and Co. He also is a board member and advisor to several healthcare IT startups.

Joel holds a BSEE and MSEE from Case Western Reserve University and also attended the Executive Management Program at Stanford University.

“Having worked closely with Joel when he was a senior executive at EMC, I know how deeply he cares about both cyber security and the value of university partnerships, a central focus of our organization,” said William Guenther, Chairman of the ACSC.  “I am very pleased we will have his counsel on the board.”

“Joel Schwartz is a recognized cyber security leader in the New England business community who brings a unique executive perspective to the Advanced Cyber Security Center Board of Directors,” said Michael Figueroa, Executive Director of the ACSC. “His business acumen and technical expertise make him a double asset to our team and I look forward to working with him as we continue to evolve our programming to establish a new baseline for cyber security.”

About the Advanced Cyber Security Center
The Advanced Cyber Security Center (ACSC) is a non-profit and cross-sector regional collaborative that is focused on building a stronger community defense by harnessing the collective resources of its members to solve common cyber security problems. As a leading federally-registered regional Information Sharing and Analysis Organization (ISAO), the ACSC serves as a security community hub that encourages cross-sector collaboration, taps advanced technology solutions, and promotes effective practices to help organizations strengthen their own cyber defense. At the same time, the ACSC deepens the capacity of the broader cyber community by enabling organizations to collectively address common problems, reduce duplicative effort, and establish a new baseline for security across Massachusetts and the New England regional community.

Media Contact:
Joan Geoghegan
Cavalier Communications,
joan@cavalier-communications.com, 978-371-3921


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Joel Schwartz Joins Advanced Cyber Security Center Board of Directors

Mar 5, 2018

Joel Schwartz Joins Advanced Cyber Security Center Board of Directors

BOSTON, March 05, 2018 (GLOBE NEWSWIRE) — The Advanced Cyber Security Center (ACSC) today announced that Joel Schwartz has joined its Board of Directors. A long-time Senior Vice President and most recently, manager of Global New Business Development with Dell EMC, Schwartz brings his experience and perspective as a high-level executive at one of New England’s largest corporations to the ACSC Board.

The ACSC is a collaborative bringing together organizations to solve common cyber security problems across Massachusetts and New England.

“Cyber security is one of the greatest challenges facing businesses and organizations across New England,” said Joel Schwartz, board member, Advanced Cyber Security Center. “I am looking forward to working with other members of the ACSC Board of Directors to help develop policies and programs that will help our membership deploy the best possible defenses.”

Eighteen months ago, Schwartz co-led a cyber-security mission to Israel, sponsored by Combined Jewish Philanthropies, with representatives from Massachusetts government, academic, commercial companies and cyber-security firms in attendance. Schwartz was joined on the mission by Kenneth Montgomery, Vice Chairman of the Board of Directors of the ACSC and Chief Operating Officer of the Federal Reserve Bank of Boston.

Since retiring from Dell EMC in 2016, Schwartz has worked as a new business consultant helping start-ups and VCs on business strategy, scaling, international growth, financing, recruiting, governance and organizational development. He is also a course developer and guest lecturer on Israeli entrepreneurship at both Brandeis University and Worcester Polytechnic Institute (WPI). Dell Technologies (formerly Dell EMC), Brandeis and WPI are all member organizations of the ACSC.

As Senior Vice President and General Manager global new business development at Dell EMC, Schwartz was responsible for the overall strategic direction of EMC’s global new business activities. This included initiating EMC’s R&D efforts in Brazil, Russia, India, China, Singapore, Kazakhstan, Colombia and Mexico, as well as led numerous investments/acquisitions in Israeli companies and joint ventures in China. Prior to this role, Joel headed EMC’s Clariion Division, growing its revenues from $500M to $2B in five years.

In addition to the ACSC Board of Directors, Schwartz also sits on the board of directors for the Finca Vigia Foundation helping Cuba restore Hemingway’s estate there, the Overseers of the Brandeis International Business School, the Board of Advisors at WPI’s Foise Business School, The International Visiting Committee of Case Western Reserve, Board of Advisors to Mass Challenge Israel and the Board of Advisors of Israel and Co. He also is a board member and advisor to several healthcare IT startups.

Joel holds a BSEE and MSEE from Case Western Reserve University and also attended the Executive Management Program at Stanford University.

“Joel Schwartz is a recognized cyber security leader in the New England business community who brings a unique executive perspective to the Advanced Cyber Security Center Board of Directors,” said Michael Figueroa, Executive Director of the ACSC. “His business acumen and technical expertise make him a double asset to our team and I look forward to working with him as we continue to evolve our programming to establish a new baseline for cyber security.”

About the Advanced Cyber Security Center
The Advanced Cyber Security Center (ACSC) is a non-profit and cross-sector regional collaborative that is focused on building a stronger community defense by harnessing the collective resources of its members to solve common cyber security problems. As a leading federally-registered regional Information Sharing and Analysis Organization (ISAO), the ACSC serves as a security community hub that encourages cross-sector collaboration, taps advanced technology solutions, and promotes effective practices to help organizations strengthen their own cyber defense. At the same time, the ACSC deepens the capacity of the broader cyber community by enabling organizations to collectively address common problems, reduce duplicative effort, and establish a new baseline for security across Massachusetts and the New England regional community.

Media Contact:
Joan Geoghegan
Cavalier Communications
joan@cavalier-communications.com, 978-371-3921


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Mercury Systems Receives $3.8M RF Microelectronics Order for Airborne Electronic Warfare Application

Mar 1, 2018

Mercury Systems Receives .8M RF Microelectronics Order for Airborne Electronic Warfare Application

ANDOVER, Mass., March 01, 2018 (GLOBE NEWSWIRE) — Mercury Systems, Inc. (NASDAQ:MRCY) (www.mrcy.com) announced it received a $3.8 million follow-on order from a leading defense prime contractor for state-of-the-art radio frequency (RF) subsystems that are integrated into an advanced airborne electronic warfare system. The orders were booked in the Company’s fiscal 2018 second quarter and are expected to be shipped over the next several quarters.

Mercury’s comprehensive portfolio of commercial RF and microwave solutions include high-performance components, integrated multi-function modules, and pre-integrated subsystems ruggedized for the harsh operating environments typically encountered by military forces. With advanced design and simulation tools, the Company has a proven record of commercializing highly differentiated RF and microwave innovations in the smallest and most rugged form factors required for defense applications.

“We are truly honored to receive this follow-on order for miniaturized RF subsystems supporting a military program of critical importance to our national security interests,” said Kevin Beals, Vice President and General Manager of Mercury’s RF and Microwave group. “In addition to providing affordable, long-term supply of these critical RF subsystems, we continue to make significant investments to commercialize electronic warfare solutions addressing tomorrow’s threat environment.” 

For more information, visit www.mrcy.com or contact Mercury at (866) 627-6951 or info@mrcy.com.

Mercury Systems – Innovation That Matters™
Mercury Systems is a leading commercial provider of secure sensor and safety-critical processing subsystems. Optimized for customer and mission success, Mercury’s solutions power a wide variety of critical defense and intelligence programs. Headquartered in Andover, Mass., Mercury is pioneering a next-generation defense electronics business model specifically designed to meet the industry’s current and emerging technology needs. To learn more, visit www.mrcy.com.

Forward-Looking Safe Harbor Statement  
This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to fiscal 2018 business performance and beyond and the Company’s plans for growth and improvement in profitability and cash flow. You can identify these statements by the use of the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, continued funding of defense programs, the timing and amounts of such funding, general economic and business conditions, including unforeseen weakness in the Company’s markets, effects of any U.S. Federal government shutdown or extended continuing resolution, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, changes in, or in the U.S. Government’s interpretation of, federal export control or procurement rules and regulations, market acceptance of the Company’s products, shortages in components, production delays due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions and restructurings, or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, changes to cyber-security regulations and requirements, changes in tax rates or tax regulations, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, unanticipated costs under fixed-price service and system integration engagements, and various other factors beyond our control. These risks and uncertainties also include such additional risk factors as are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2017. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.

Contact:
Robert McGrail, Director of Corporate Communications
Mercury Systems, Inc.
+1 978-967-1366 / rmcgrail@mrcy.com

Mercury Systems and Innovation That Matters are trademarks of Mercury Systems, Inc. Other product and company names mentioned may be trademarks and/or registered trademarks of their respective holders.


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Spirit Airlines Pilots Ratify 5-Year Agreement

Feb 28, 2018

Spirit Airlines Pilots Ratify 5-Year Agreement

MIRAMAR, Fla., Feb. 28, 2018 (GLOBE NEWSWIRE) — Spirit Airlines and its pilots, represented by the Air Line Pilots Association, Int’l (ALPA), announced the ratification of a new five-year working agreement Wednesday. Of the 98 percent of pilots who voted, 70 percent cast ballots in favor of the agreement.

“This agreement increases our annual compensation, delivers job protections, and maintains important quality-of-life protections,” said Capt. Stuart Morrison, chairman of the Spirit unit of ALPA. “The agreement also significantly improves the ability of Spirit Airlines to attract and retain the highest quality of pilots available.”

Spirit Airlines’ agreement with ALPA includes an average 43 percent increase in pay rates on date of signing, double-digit direct contributions to pilots’ retirement plans, and $75 million in ratification compensation.

“We are very pleased to reach this important agreement with our pilots,” said Robert Fornaro, Spirit’s Chief Executive Officer. “Our new contract will give our pilots a deserved increase in pay and benefits, and will allow the airline to operate more efficiently and reliably so we can even better serve our guests. I want to thank our mediators from the National Mediation Board and our negotiators from ALPA and Spirit.”

The ratification of this agreement represents three years of contract negotiations, including nearly two years at the bargaining table with the assistance of the NMB.

“I want to congratulate the Spirit bargaining team and the pilot group’s leadership for achieving much-needed improvements in the cornerstone areas of their contract,” said Capt. Tim Canoll, ALPA president. “Under their leadership, this group emerged from mediated negotiations with the pay increases and job security provisions our pilots have long deserved.”

About Spirit Airlines:
Spirit Airlines (NYSE:SAVE) is committed to offering the lowest total price to the places we fly, on average much lower than other airlines, on average more than 30% less*. Our Guests start with an unbundled Bare Fare™ and get Frill Control™ which allows them to pay only for the options they choose – like bags, seat assignments and refreshments – the things other airlines bake right into their ticket prices. We help people save money and travel more often, create new jobs and stimulate business growth in the communities we serve. Our Fit Fleet is one of the youngest, most fuel-efficient in the U.S.  We operate more than 450 daily flights to 61 destinations in the U.S., Latin America and the Caribbean. Come save with us at spirit.com.

*U.S. Department of Transportation statistics

About Spirit ALPA:   
Founded in 1931, ALPA is the world’s largest pilot union, representing over 60,000 pilots at 34 airlines in the United States and Canada, including the over 1,800 pilots of Spirit Airlines. Visit the ALPA website at www.alpa.org or follow us on Twitter @WeAreALPA. 

MEDIA NOTE:  Spirit aircraft photos and video b-roll are available in the press room section of spirit.com at http://www.spirit.com/Pressrelease.aspx.

Contact: Stephen Schuler
954-364-0231
Stephen.Schuler@spirit.com 

En Español: Manuel Jaquez
954-628-4898
Manuel.Jaquez@spirit.com 


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Iridium Certus(SM) Readies for Takeoff with Aviation Service Providers

Feb 28, 2018

Iridium Certus(SM) Readies for Takeoff with Aviation Service Providers

MCLEAN, Va., Feb. 28, 2018 (GLOBE NEWSWIRE) — Iridium Communications Inc. (NASDAQ:IRDM) announced today that Honeywell Aerospace, SKYTRAC, Avitek and Navicom Aviation are the first Iridium Certus service providers to be selected for the aviation industry. As Iridium Certus service providers, each company will be able to offer the new, best-in-class broadband satellite connectivity to its customers. Ideal for commercial airliner flight deck communications, rotorcraft and both flight deck and cabin business jet connectivity, Iridium Certus will soon offer the industry’s fastest L-Band speeds. This will be delivered through small form factor, cost-effective antennas with the same reliable pole-to-pole coverage only provided by the Iridium® network. 

A recognized leader in the aviation industry and long-time Iridium partner, Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft. Honeywell Aerospace works to develop innovative solutions to increase aircraft efficiency, reduce pilot workload and improve passenger safety and comfort.

“Iridium Certus will extend Honeywell’s vision for the Connected Aircraft by enabling high-speed data rates for all aircraft types operating anywhere in the world,” said John Peterson, Honeywell’s senior director of services and connectivity. “Combining the capabilities of the new Iridium constellation with GoDirect’s Flight Services, Connected Maintenance, and Optimization Analytics will bring even greater operational efficiency for Honeywell’s thousands of airline, military, business and commercial operators.”

SKYTRAC provides performance trending, operations reporting, real-time asset tracking and situational awareness solutions to the aviation industry. SKYTRAC will extend Iridium Certus services to aviation partners as well as delivering the technology on their ISAT-200A hardware.  

“Our mission is to drive flight safety and efficiency through streamlined air-to-ground connectivity. With its higher bandwidth, Iridium Certus will allow us to bring more power to recent innovations like real-time Health and Usage monitoring and weather to cockpit while also offering highest-quality voice services. SKYTRAC is proud to have been selected as one in a limited group of companies to offer Iridium Certus services direct to aviation clients,” said SKYTRAC President, Malachi Nordine.

Based in China, Avitek is a leading aviation solutions company that provides onboard communications, ADS-B, ACARS and Electronic Flight Bag services.  Avitek has been instrumental in equipping airliners throughout China with Iridium satellite communications devices to meet the Airline Operational Communications voice mandate by the Civil Aviation Authority of China.  The introduction of Iridium Certus will allow Avitek to enhance the capability of the data solutions it offers and improve flight standards and operations as a result.

Navicom Aviation, based in Japan, is dedicated to the safe and efficient operation of aircraft. With a large number of helicopters in Japan serving public safety efforts for police and fire departments and the Japanese Coast Guard, Navicom plays a vital role in ensuring their aircraft stay connected. Navicom will provide the Iridium Certus service in support of their goal to help improve flight support systems for the overall aviation industry.

Enabled by the Iridium NEXT satellite constellation, Iridium Certus will bring broadband functionality, with enterprise-grade quality of service, to the aviation industry. It will feature a range of throughput and service options that will enable everything from graphical weather reports, multi-user internet/VPN and Very Small Aperture Terminal (VSAT) redundancy to flight data recorder streaming, video conferencing, and, upon formal approval, safety services.  The Iridium Certus high-gain antenna (HGA) solutions will provide data speed options of up to 704 Kbps, and eventually as high as approximately 1.4 Mbps following full Iridium NEXT deployment, with an antenna size of approximately 24 x 10 x 6cm, while the low-gain antenna (LGA) solutions will enable data speeds of up to 176 Kbps.   

“Iridium Certus is poised to introduce a revolution in aircraft communications,” said Brian Pemberton, vice president strategic planning and general manager aviation at Iridium. “Iridium Certus leverages the inherent advantages of the Iridium network and architecture and combines that with enhanced capabilities of the Iridium NEXT constellation to redefine best-in-class aircraft connectivity.  Iridium Certus not only satisfies the connectivity requirements for the flight deck but also serves as an ideal cabin connectivity solution for many business aviation users.”  

Initial flight trials will take place later this year, with Iridium Certus commercial service introduction expected in mid-2019 for aviation users. Commercial service introduction for other verticals, such as maritime and land-mobile, is planned for mid-2018. Iridium NEXT is the Company’s next-generation satellite constellation.  To date, there have been four successful Iridium NEXT launches, deploying more than half of the new constellation. Four additional launches are planned for 2018.

For more information about Iridium Certus, please visit https://www.iridium.com/company/industryleadership/iridiumcertus

For more information about Iridium NEXT, please visit www.IridiumNEXT.com

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. The company has a major development program underway for its next-generation network — Iridium NEXT. 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 presentation include statements regarding the deployment and capabilities of the Iridium NEXT constellation and products and services to be offered over the constellation, including Iridium Certus, as well as the potential market for such products and services. 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 potential delays in the Iridium NEXT deployment, the development and functionality of Iridium NEXT and related 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, 2017, filed with the Securities and Exchange Commission (the “SEC”) on February 22, 2018, 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.
+1 (646) 872-0067
Jordan.Hassin@iridium.com
Twitter: @IridiumComm

Investor Contact:

Kenneth Levy
Iridium Communications Inc.
+1 (703) 287-7570
Ken.Levy@iridium.com
Twitter: @IridiumIR


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Iridium Announces Fourth-Quarter and Full-Year 2017 Results; Company Issues 2018 Outlook

Feb 22, 2018

Iridium Announces Fourth-Quarter and Full-Year 2017 Results; Company Issues 2018 Outlook

MCLEAN, Va., Feb. 22, 2018 (GLOBE NEWSWIRE) — Iridium Communications Inc. (Nasdaq:IRDM) (“Iridium”) today reported financial results for the fourth quarter of 2017, issued its full-year 2018 guidance and updated its long-range outlook.  Net income was $141.9 million, or $1.10 per diluted share, for the fourth quarter of 2017, as compared to net income of $24.1 million, or $0.19 per diluted share, for the fourth quarter of 2016.  Operational EBITDA (“OEBITDA”)(1) for the fourth quarter was $63.7 million, as compared to $61.3 million for the prior-year period, representing a year-over-year increase of 4% and an OEBITDA margin(1) of 55%.  OEBITDA benefitted from continued growth in the Company’s Internet of Things (“IoT”) data business and from higher equipment sales.

Iridium reported fourth-quarter total revenue of $115.5 million, which consisted of $91.4 million of service revenue and $24.0 million of revenue related to equipment sales and engineering and support projects.  Total revenue increased 7% versus the comparable period of 2016, while service revenue grew 9% from the year-ago period.  Service revenue, which represents primarily recurring revenue from Iridium’s growing subscriber base, was 79% of total revenue for the fourth quarter of 2017.

The Company ended the quarter with 969,000 total billable subscribers, which compares to 850,000 for the year-ago period and is up from 949,000 for the quarter ended September 30, 2017.  Total billable subscribers grew 14% year-over-year, driven by growth in commercial IoT and government customers.

Full-Year 2017 Iridium Business Highlights

For the full year, Iridium reported net income of $233.9 million, or $1.82 per diluted share attributable to common stockholders, as compared to net income of $111.0 million, or $0.89 per diluted share attributable to common stockholders for 2016.  The Company reported 2017 total revenue of $448.0 million, which was up 3% from the year-ago period.  Total revenue included $349.7 million of service revenue and $98.3 million of revenue related to equipment sales and engineering and support projects.  OEBITDA for 2017 was $265.6 million, a 4% increase from $254.2 million in the prior-year, representing an OEBITDA margin of 59%.  Capital expenditures were $400.1 million for the full-year 2017.

“Iridium is executing well as we continue to move into the Iridium® NEXT era.  IoT remains a strong catalyst for subscriber growth, and Iridium’s unique offering continues to attract large, new business partners with growing satellite requirements,” said Matt Desch, CEO, Iridium.  Desch continued, “The Company delivered 9% total service revenue growth in the latest quarter and exceeded our full-year guidance for Operational EBITDA in 2017.  Momentum for services enabled by the Iridium network, including personal tracking and real-time asset telemetry, helped to fuel a 23% rise in commercial IoT subscribers and drive total billable subscribers to a record 969,000 at year end.”

Commenting on Iridium NEXT, Desch said, “We made great progress in 2017 on our next generation constellation, with four launches and 40 satellites in orbit, including our most recent launch in December.  Thirty-two satellites are now in operation with eight more drifting toward their intended orbital slots.”

Desch concluded, “Today, we issued 2018 full-year guidance and updated our long-term outlook.  We expect continued demand for Iridium’s one-of-a-kind global solutions and new services available with Iridium NEXT satellites will drive significant revenue and subscriber growth for our Company.”

Fourth-Quarter Iridium Business Highlights

Service – Commercial

Commercial service remained the largest part of Iridium’s business, representing 60% of the Company’s total revenue during the fourth quarter.  The Company’s commercial customer base is diverse and includes markets such as maritime, aviation, oil and gas, mining, recreation, forestry, construction, transportation and emergency services.  These customers rely on Iridium’s products and services as critical to their daily operations and integral to their communications and business infrastructure.

  • Commercial service revenue was $69.4 million, up 12% from last year’s comparable period due to revenue from hosted payload and other data services and to increased IoT revenues.
  • Commercial voice and data subscribers rose from the year-ago period to 359,000 customers.  Commercial voice and data average revenue per user (“ARPU”) was $42 during the fourth quarter, compared to $41 in last year’s comparable period.  Commercial IoT data subscribers grew 23% from the year-ago period to 510,000 customers.  Commercial IoT data ARPU was $13 in the fourth quarter, compared to $14 in last year’s comparable period.
  • Iridium’s commercial business ended the quarter with 869,000 billable subscribers, which compares to 766,000 for the prior-year quarter and is up from 854,000 for the quarter ended September 30, 2017.  IoT data subscribers represented 59% of billable commercial subscribers at the end of the quarter, an increase from 54% at the end of the prior-year period.

Service – Government

Iridium’s voice and data solutions improve situational awareness for military personnel and track critical assets in tough environments around the globe, providing a unique value proposition that is not easily duplicated.  The Company operates through two Defense Information Systems Agency (“DISA”) contracts, which include a $400 million, five-year, fixed-price agreement for satellite communications services and a $38 million multi-year contract to support and maintain the Department of Defense’s (“DoD”) dedicated gateway.   

  • Government service revenue was $22.0 million, consistent with the prior-year period, as the final step up in the fixed fee under the Company’s airtime services contract with DISA occurred in 2015.
  • Iridium’s government business ended the quarter with 100,000 subscribers, which compares to 84,000 for the prior-year quarter and is up from 95,000 for the quarter ended September 30, 2017.  Government voice and data subscribers increased 18% from the year-ago period to 52,000 as of December 31, 2017.  IoT data subscribers increased 20% year-over-year and continued to represent 48% of government subscribers at year-end.

Equipment

  • Equipment revenue was $19.4 million during the fourth quarter, up 18% from the prior-year period, reflecting heightened sales from hurricane-related activity.
  • The Company forecasts lower equipment sales in 2018.

Engineering & Support

  • Engineering and support revenue was $4.7 million during the fourth quarter, down 32% from the prior-year quarter, primarily due to the episodic nature of government-sponsored projects.

Capital expenditures were $109.4 million for the fourth quarter and primarily related to spending for the Company’s next-generation satellite constellation, Iridium NEXT.  The Company ended the fourth quarter with a cash and marketable securities balance of $297.6 million and credit facility gross debt of $1.8 billion.  Net debt was $1.5 billion, calculated as $1.8 billion of credit facility gross debt and $55.6 million of Thales bills of exchange, less $297.6 million of cash and marketable securities, as well as $102.4 million in restricted cash.

2018 Outlook

The Company issued its full-year 2018 outlook for total service revenue growth and OEBITDA.    Based on expectations that approximately $14 million in hosting revenues from Aireon will be recognized, the Company expects:

  • Total service revenue growth between 10% and 12% for the full-year 2018.
  • Full-year 2018 OEBITDA between $280 million and $290 million.  OEBITDA for 2017 was $265.6 million.

The Company also announced that it believes it has reached an agreement in principle with its credit facility lenders to solidify its liquidity position.  Pursuant to this agreement, the Company would be required to raise additional debt by July 2018, and the lenders would delay a portion of the principal repayments.  The proceeds of this capital raising and delayed principal payment schedule would provide the Company with sufficient cash to meet its needs, including principal and interest payments under its credit facility, for the next several years, even in the absence of any hosting fee payments from Aireon.

Long-Range Outlook

The Company updated its long-range outlook for total service revenue growth and peak net leverage, while affirming its guidance for OEBITDA margin, cash taxes, and 2019 net leverage.  Given our expected completion of the Iridium NEXT system in 2018, the Company expects:

  • Total service revenue of approximately $440 million for the full-year 2019.
  • OEBITDA margin of approximately 60% in 2019.
  • Negligible cash taxes through approximately 2020.
  • Peak net leverage of 6.0x to 6.5x OEBITDA in 2018.
  • Net leverage of approximately 4.5x OEBITDA in 2019.

Non-GAAP Financial Measures & Definitions

  1. In addition to disclosing financial results that are determined in accordance with U.S. GAAP, the Company provides Operational EBITDA and Operational EBITDA margin, which are non-GAAP financial measures, as supplemental measures to help investors evaluate the Company’s fundamental operational performance.  Operational EBITDA represents earnings before interest, income taxes, depreciation and amortization, Iridium NEXT revenue and expenses (for periods prior to the deployment of Iridium NEXT only), loss from investment in Aireon, share-based compensation expenses, the impact of purchase accounting, and non-cash gain from the Boeing transaction.  Iridium NEXT revenue and expenses were excluded from Operational EBITDA through 2017.  In 2018, Iridium NEXT revenues and recurring Iridium NEXT expenses (recurring Iridium NEXT expenses are not part of the approximately $3 billion construction cost of Iridium NEXT (the “Construction Costs”)) will no longer be excluded in calculating Operational EBITDA.  U.S. GAAP requires that certain of the Construction Costs be expensed.  These certain Construction Costs, which beginning in 2018 will principally consist of in-orbit insurance, will continue to be excluded from the calculation of Operational EBITDA through 2019.  The Company also presents Operational EBITDA expressed as a percentage of GAAP revenue, or Operational EBITDA margin.  Operational EBITDA, along with its related measure, Operational EBITDA margin, does not represent, and should not be considered, an alternative to U.S. GAAP measurements such as net income or loss, and the Company’s calculations thereof may not be comparable to similarly titled measures reported by other companies.  By eliminating interest, income taxes, depreciation and amortization, Iridium NEXT revenue and expenses (for periods prior to the deployment of Iridium NEXT only), loss from investment in Aireon, share-based compensation expenses, the impact of purchase accounting, and non-cash gain from the Boeing transaction, the Company believes the result is a useful measure across time in evaluating its fundamental core operating performance.  Management also uses Operational EBITDA to manage the business, including in preparing its annual operating budget, debt covenant compliance, financial projections and compensation plans.  The Company believes that Operational EBITDA is also useful to investors because similar measures are frequently used by securities analysts, investors and other interested parties in their evaluation of companies in similar industries.  However, there is no standardized measurement of Operational EBITDA, and Operational EBITDA as the Company presents it may not be comparable with similarly titled non-GAAP financial measures used by other companies.  As indicated, Operational EBITDA does not include interest expense on borrowed money, the payment of income taxes, amortization of the Company’s definite-lived intangible assets, or depreciation expense on the Company’s capital assets, which are necessary elements of the Company’s operations.  It also excludes expenses in connection with the development, deployment and financing of Iridium NEXT and the loss from investment in Aireon.  Since Operational EBITDA does not account for these and other expenses, its utility as a measure of the Company’s operating performance has material limitations.  Due to these limitations, the Company’s management does not view Operational EBITDA in isolation, but also uses other measurements, such as net income, revenues and operating profit, to measure operating performance.  Please refer to the schedule below for a reconciliation of consolidated GAAP net income to Operational EBITDA and Iridium’s Investor Relations webpage at www.iridium.com for a discussion and reconciliation of this and other non-GAAP financial measures. We do not provide a forward-looking reconciliation of expected full-year 2018 Operational EBITDA guidance as the amount and significance of special items required to develop meaningful comparable GAAP financial measures cannot be estimated at this time without unreasonable efforts.
        
 Iridium Communications Inc.
 Supplemental Reconciliation of GAAP Net Income to Operational EBITDA
 (In thousands)
        
 Three Months Ended December 31, Year Ended December 31,
 2017 2016 2017 2016
GAAP net income$141,877  $24,103  $233,856  $111,032 
Interest income, net (1,417)  (676)  (4,328)  (2,934)
Income taxes (154,479)  17,846   (114,284)  67,133 
Depreciation and amortization 65,615   11,806   122,266   49,394 
Iridium NEXT expenses, net 7,965   4,614   23,316   16,732 
Share-based compensation 4,119   3,806   15,806   13,689 
Non-cash purchase accounting    (204)     (825)
Non-cash gain on Boeing transaction       (11,003)   
Operational EBITDA$63,680  $61,295  $265,629  $254,221 
        

Conference Call Information

As previously announced, the Company will host a conference call to discuss its results at 8:30 a.m. ET on Thursday, February 22, 2018.  Callers should dial (877) 334-1964 (U.S. only) or (631) 291-4574 (from outside the U.S.) to access the call.  The conference call ID is 2659408.  The conference call will also be simultaneously webcast on Iridium’s Investor Relations webpage at www.iridium.com.  An archive of the webcast will be available following the live conference call.

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.  The company has a major development program underway for its next-generation network – Iridium NEXT.  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.  IRDM-F

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. Forward-looking statements include statements regarding Iridium’s expectations with respect to total service revenue growth, OEBITDA and hosted payload revenues, including from Aireon, for 2018; service revenue, OEBITDA margin, cash taxes and leverage over the longer-term; the timing of Iridium NEXT launches and the prospects for related services, including IoT; anticipated equipment revenue, and its agreement in principle with its credit facility lenders to solidify its liquidity position.  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 customer demand for Iridium’s products and services, including demand from the U.S. Government; Iridium’s ability to maintain the health, capacity and content of its current satellite constellation; the manufacture and launch of and transition to Iridium NEXT; Iridium’s ability to finalize its agreements with its credit facility lenders and to raise additional debt, and the development of and market for Iridium’s products and services, 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, 2017, filed with the Securities and Exchange Commission (“SEC”) on February 22, 2018, 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 are based on information available to it as of the date of this press release and speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements. 


   
   
Iridium Communications Inc.
Condensed Consolidated Statements of Operations
(In thousands)
  
 Three Months Ended December 31,
 2017 2016
Revenue       
Service revenue       
Commercial$69,437  $62,197 
Government 22,000   22,000 
Total service revenue 91,437   84,197 
Subscriber equipment 19,377   16,389 
Engineering and support service 4,655   6,863 
Total revenue 115,469   107,449 
      
Operating expenses     
Cost of services (exclusive of depreciation and amortization) 21,187   16,671 
Cost of subscriber equipment sales 11,287   10,488 
Research and development 5,025   4,469 
Selling, general and administrative 26,306   22,419 
Depreciation and amortization 65,614   11,806 
Total operating expenses 129,419   65,853 
        
Gain on Boeing transaction     
        
Operating income (loss) (13,950)  41,596 
        
Other income (expense)       
Interest income, net 1,417   676 
Undrawn credit facility fees    (170)
Other expense, net (69)  (153)
Total other income, net 1,348   353 
        
Income (loss) before income taxes (12,602)  41,949 
Benefit (provision) for income taxes 154,479   (17,846)
Net income 141,877   24,103 
Series A preferred stock dividends, declared and paid    1,750 
Series B preferred stock dividends, declared and paid    2,109 
Series A preferred stock dividends, undeclared 1,750    
Series B preferred stock dividends, undeclared 2,109    
Net income attributable to common stockholders$138,018  $20,244 
        
Operational EBITDA$63,680  $61,295 
        

 

    
Iridium Communications Inc.
Condensed Consolidated Statements of Operations   
(In thousands)   
  
 Year Ended December 31,
 2017 2016
Revenue   
Service revenue   
Commercial$261,735  $246,822 
Government 88,000   88,000 
Total service revenue 349,735   334,822 
Subscriber equipment 77,119   74,211 
Engineering and support service 21,192   24,607 
Total revenue 448,046   433,640 
    
Operating expenses   
Cost of services (exclusive of depreciation and amortization) 80,396   64,958 
Cost of subscriber equipment sales 44,445   44,286 
Research and development 15,247   16,079 
Selling, general and administrative 84,405   82,552 
Depreciation and amortization 122,266   49,394 
Total operating expenses 346,759   257,269 
    
Gain on Boeing transaction 14,189    
    
Operating income 115,476   176,371 
    
Other income (expense)   
Interest income, net 4,328   2,934 
Undrawn credit facility fees (25)  (1,346)
Other income (expense), net (207)  206 
Total other income, net 4,096   1,794 
    
Income before income taxes 119,572   178,165 
Benefit (provision) for income taxes 114,284   (67,133)
Net income 233,856   111,032 
Series A preferred stock dividends, declared and paid 1,750   7,000 
Series B preferred stock dividends, declared and paid 2,109   8,436 
Series A preferred stock dividends, undeclared 5,250    
Series B preferred stock dividends, undeclared 6,327    
Net income attributable to common stockholders$218,420  $95,596 
    
Operational EBITDA$265,629  $254,221 
    

 

              
Iridium Communications Inc. 
Summary Revenue and OEBITDA Highlights 
(In thousands) 
               
 Three Months Ended December 31,    Year Ended December 31,    
 2017 2016 % Change  2017 2016 % Change  
Revenue              
Service revenue(1)              
Commercial              
Voice and data and IoT data service              
Voice and data$45,353  $44,189  3% $177,686 $177,666 0% 
IoT data(2) 19,525   16,750  17%  74,142  65,523 13% 
Hosted payload and other data service (3) 4,558   1,258  262%  9,908  3,633 173% 
Total commercial data service 69,437   62,197  12%  261,735  246,822 6% 
               
Government service revenue(4) 22,000   22,000  0%  88,000  88,000 0% 
               
Total service revenue 91,437   84,197  9%  349,735  334,822 4% 
               
Subscriber equipment 19,377   16,389  18%  77,119  74,211 4 
               
Engineering and support(5)              
Commercial 1,119   377  197%  3,109  2,245 38% 
Government 3,536   6,486  -45%  18,083  22,362 -19% 
Total engineering and support 4,655   6,863  -32%  21,192  24,607 -14% 
               
Total revenue$115,469  $107,449  7% $448,046 $433,640 3% 
               
               
Operational EBITDA              
Operational EBITDA$63,680  $61,295  4% $265,629 $254,221 4% 
               
Other              
Capital expenditures (6)$109,395  $173,896     $400,107 $405,687    
               
Net debt (7)$1,455,591  $1,254,294            
              
Cash, cash equivalents, and marketable securities$297,626  $410,495           
              
Credit facility$1,800,000  $1,777,789           
Deferred financing costs (96,445)  (120,644)          
Credit facility, net$1,703,555  $1,657,145           
               
(1) Service revenue consists of primarily subscription-based services which often generate a long-term recurring revenue stream from subscribers.   
               
(2) IoT data service provides a two-way short burst data transmission between Iridium Communications Inc.’s network and a telemetry unit, which may be located, for example, on a container in transit or a buoy monitoring oceanographic conditions. 
               
(3) Hosted payload and other services consist primarily of services that do not have traditional billable subscribers, but are based on capacity. Hosted payload services consist of hosting and data services to our payload customers, Aireon and Harris. Other services include primarily Iridium Communications Inc.’s one-way satellite timing, location, and authentication services (STL) which provides position, navigation and timing technology. 
               
(4) Government service revenue consists of voice and M2M data subscription-based services provided to agencies of the U.S. government through prime contracts or subcontracts. 
               
(5) Engineering and support includes maintenance services to the U.S. government’s dedicated gateway in Hawaii and engineering services to assist customers in developing new technologies for use on Iridium Communications Inc.’s satellite system. 
               
(6) Capital expenditures based on cash spent in the respective period. 
               
(7) Net debt is calculated by taking the sum of the gross credit facility and Thales bills of exchange, less cash and cash equivalents, marketable securities, and the debt service reserve for the credit facility. 
               

 

Iridium Communications Inc.             
Subscriber Highlights             
(In thousands, except ARPU)             
              
              
 As of December 31,          
 2017 2016 % Change        
Billable Subscribers (1)(2)             
Commercial             
Voice and data and IoT data service             
Voice and data 359   353  2%       
IoT data 510   413  23%       
Total commercial voice and data and IoT data service 869   766  13%       
              
Government             
Voice and data and IoT data service             
Voice and data 52   44  18%       
IoT data 48   40  20%       
Total government voice and data and IoT data service 100   84  19%       
Total billable subscribers 969   850  14%       
              
              
              
 Three Months Ended December 31,    Year Ended December 31,   
 2017 2016 % Change  2017 2016 % Change 
Net Billable Subscriber Additions             
Commercial             
Voice and data and IoT data service             
Voice and data (9)  (5) -80%  6  2 200%
IoT data 24   15  60%  97  54 80%
Total commercial voice and data and IoT data service 15   10  50%  103  56 84%
              
Government             
Voice and data and IoT data service             
Voice and data 3   1  200%  8  4 100%
IoT data 2   1  100%  8  8 0%
Total government voice and data and IoT data service 5   2  150%  16  12 33%
Total net billable subscriber additions 20   12  67%  119  68 75%
              
              
 Three Months Ended December 31,    Year Ended December 31,   
 2017 2016 % Change  2017 2016 % Change 
 ARPU(2)(3)             
Commercial             
Voice and data$42  $41  2% $42 $42 0%
IoT data$13  $14  -7% $13 $14 -7%
              
              
(1) Subscribers as of the end of the respective period. 
(2) Billable subscriber and ARPU data is not applicable for Hosted payload and other data service revenue items, and is excluded from presentation above. 
(3) Average monthly revenue per unit, or ARPU, is calculated by dividing revenue in the respective period by the average of the number of billable subscribers at the beginning of the period and the number of billable subscribers at the end of the period and then dividing the result by the number of months in the period. 
 

Investor Contact:

Kenneth Levy
Iridium Communications Inc.
+1 (703) 287-7570
ken.levy@iridium.com

Press Contact:

Jordan Hassin
Iridium Communications Inc.
+1 (703) 287-7421
jordan.hassin@iridium.com


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TTM Technologies, Inc. Announces a Retirement and Nominates a New Board Member

Feb 20, 2018

TTM Technologies, Inc. Announces a Retirement and Nominates a New Board Member

COSTA MESA, Calif., Feb. 20, 2018 (GLOBE NEWSWIRE) — TTM Technologies, Inc. (NASDAQ:TTMI) (“TTM”), a major global printed circuit board (PCB) manufacturer, announced today that Ronald W. Iverson will not stand for reelection to the Board of Directors in accordance with TTM’s mandatory retirement policy which requires Directors to retire at the age of 75.

TTM also announced that Rex D. Geveden has been nominated to serve on the Company’s Board of Directors pending approval from the Defense Security Service (“DSS”) pursuant to the Special Security Agreement between TTM and DSS.  Once approved by DSS, and upon election by TTM’s stockholders at the Stockholder’s Meeting on May 9, 2018, Mr. Geveden will serve as a Class III director with a term expiring in 2021. 

Mr. Geveden currently serves as president and chief executive officer since January 1, 2017 and as chief operating officer from October 2015 until December 2016 of BWX Technologies, Inc. (NYSE:BWXT), a $1.6 billion nuclear industrial conglomerate headquartered in Lynchburg, VA.  Previously, Mr. Geveden was executive vice president at Teledyne Technologies Incorporated, a provider of electronic subsystems and instrumentation for aerospace, defense and other uses.  There he led two of Teledyne’s four operating segments since 2013 and concurrently served as President of Teledyne DALSA, Inc., a Teledyne subsidiary, since 2014.  Mr. Geveden also served as president and chief executive officer of Teledyne Scientific and Imaging, LLC from 2011 to 2013 and President of both Teledyne Brown Engineering, Inc. and Teledyne’s Engineered Systems Segment from 2007 to 2011.  Mr. Geveden is a former Associate Administrator of the National Aeronautics and Space Administration (“NASA”), where he was responsible for all technical operations within the agency’s $16 billion portfolio and served in various other positions with NASA in a career spanning 17 years.  Mr. Geveden holds both a bachelor’s and a master’s degree in physics from Murray State University.

“We are pleased to nominate Rex to join our Board of Directors,” said Robert E. Klatell, Chairman of the Board of TTM. “His extensive background in the technology industry, coupled with his experience in the aerospace and defense sector, will bolster the Board’s capabilities as we look forward to the future for TTM.  We are very appreciative of the exceptional service of Ron Iverson over the years. For the past eight years we have benefitted immeasurably from his leadership of the Board’s Government Security Committee and his many other contributions to the success of TTM, particularly as we grew our aerospace and defense business on our path to a leading position in the global PCB industry.”

After Mr. Iverson’s retirement and Mr. Geveden’s appointment, TTM’s Board will consist of 10 directors, eight of whom are independent under NASDAQ rules.

About TTM
TTM Technologies, Inc. is a leading global printed circuit board manufacturer, focusing on quick-turn and volume production of technologically advanced PCBs, backplane assemblies and electro-mechanical solutions. TTM stands for time-to-market, representing how TTM’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. Additional information can be found at www.ttm.com.

Contact:
Sameer Desai
Senior Director, Corporate Development & Investor Relations
TTM Technologies, Inc.
+1 714 327 3050
sameer.desai@ttmtech.com


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Growing in the Caribbean! Spirit Airlines to Add New Service to St. Croix

Feb 20, 2018

Growing in the Caribbean! Spirit Airlines to Add New Service to St. Croix

MIRAMAR, Fla., Feb. 20, 2018 (GLOBE NEWSWIRE) — More crystal blue water, more palm trees, more toes in the sand and More Go to the Caribbean with Spirit Airlines. Beginning May 24, 2018, Spirit will connect Fort Lauderdale-Hollywood International Airport (FLL) with nonstop service to St. Croix’s Henry E. Rohlsen Airport (STX). The service will run three times per week on Tuesday, Thursday and Sunday. The Caribbean island will become Spirit’s 65th destination, following last week’s addition of Columbus, OH, and upcoming new service to Richmond, VA; Guayaquil, Ecuador; and Cap Haitien, Haiti.

“Spirit is proud of its strong connection to the Caribbean, and we’re thrilled to bring more ultra-low fares to the U.S. Virgin Islands,” said Mark Kopczak, Spirit Airlines’ Vice President of Network Planning. “With this new service to St. Croix, and our continuing resumption of service to the other islands impacted by last year’s hurricanes, we are excited to expand on our 12 years of service to the region and continue to deliver ultra-low fares for tourists and locals alike.”

“The U.S. Virgin Islands is making tremendous progress in its recovery from last September’s hurricanes,” said Kenneth E. Mapp, Governor of the U.S. Virgin Islands. “The decision by Spirit Airlines to provide service to St. Croix not only provides additional options for travelers to and from the mainland, but also signals confidence in the Territory’s continued growth and progress.”

Spirit continues to rebuild to its full historic Caribbean scheduled service levels.  On March 10, service to St. Thomas, U.S. Virgin Islands and to San Juan and Aguadilla in Puerto Rico all return to pre-storm, daily service. On April 12, Spirit will also celebrate expanded service to Kingston, Jamaica for the summer season and new nonstop service to Cap Haitien, Haiti. Spirit intends to resume its Saturday-only service to St. Maarten on May 5, 2018.

“This additional service helps to meet the growing demand for air service into St. Croix, the largest of the U.S. Virgin Islands,” said Beverly Nicholson Doty, Commissioner of Tourism U.S. Virgin Islands. “We thank Spirit Airlines for its commitment to the Territory and look forward to developing our expanding partnership.”

Guests can check out the crazy-low fares and vacation packages available to all of Spirit’s destinations at spirit.com, where they can also sign up to receive alerts on Spirit’s email deals and offers.

About Spirit Airlines:
Spirit Airlines (NYSE:SAVE) is committed to offering the lowest total price to the places we fly, on average much lower than other airlines, on average more than 30% less*. Our customers start with an unbundled Bare Fare™ and get Frill Control™ which allows them to pay only for the options they choose – like bags, seat assignments and refreshments – the things other airlines bake right into their ticket prices. We help people save money and travel more often, create new jobs and stimulate business growth in the communities we serve. Our Fit Fleet is one of the youngest, most fuel-efficient in the U.S.  We operate more than 450 daily flights to 61 destinations in the U.S., Latin America and the Caribbean. Come save with us at spirit.com.

*U.S. Department of Transportation statistics

MEDIA NOTE:  Spirit aircraft photos and video b-roll are available in the press room section of spirit.com at http://www.spirit.com/Pressrelease.aspx.

CONTACT: Contact: Stephen Schuler
954-364-0231
Stephen.Schuler@spirit.com 

En Español: Manuel Jaquez
954-628-4898
Manuel.Jaquez@spirit.com


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Iridium Certus(SM) Mission-Critical Broadband Readies for Department of Defense Users with COMSAT

Feb 19, 2018

Iridium Certus(SM) Mission-Critical Broadband Readies for Department of Defense Users with COMSAT

MCLEAN, Va., Feb. 19, 2018 (GLOBE NEWSWIRE) — Iridium Communications Inc. (NASDAQ:IRDM) announced today that COMSAT, Inc., has signed an agreement to become an Iridium Certus service provider for U.S. Department of Defense (DoD) users. This unique, long-term deal will allow COMSAT Inc. to provide Iridium’s secure global satellite broadband connectivity for mobile voice and data services to the Department of Defense (DoD) beginning in mid-2018.

COMSAT, Inc., a leader in delivering world-class, secure satellite solutions to government, military and maritime customers, will bring its full suite of value-added services to the Iridium Certus program. By leveraging the inherent advantages of the Iridium® network, like truly global, on-the-move L-band connectivity, COMSAT will be able to deliver enhanced capabilities that meet Communications Security (ComSec) requirements for the DoD and warfighter. These capabilities include, but are not limited to, real-time usage statistics, telematics data, voice calling, personnel tracking applications, and real-time environmental assessments.  The Iridium Certus service will offer dramatic improvements to current L-band services offered by other satellite companies.  Iridium Certus terminals are smaller and capable of maintaining broadband connectivity in fast-paced, unpredictable environments on land, at sea, in the air – and can do it without landing or passing through non-U.S. territories.  The service will debut at speeds of 352 Kbps, with terminals upgradable to 704 Kbps through a future firmware update.

“This is a new generation of technology that will keep users connected on-the-move, combining the robustness and reliability of the Iridium network with the value-added services and years of experience provided by COMSAT,” said David Greenhill, president of COMSAT. “U.S. government users will experience a new level of mission-critical mobile capabilities thanks to this partnership.  We’re excited to bring this new service to them.”

Whether in high-risk combat zones or during inclement weather events, Iridium’s network provides uncompromised satellite communications that keeps users connected when it’s needed most. Through the service, U.S. government users will be able to securely connect remote assets to respective command and control centers back on U.S. soil in a cost-effective and secure manner, from anywhere on the planet including Arctic and Antarctic regions.

“Iridium and the DoD have maintained a longstanding and collaborative partnership through our Enhanced Mobile Satellite Services (EMSS) contract, and we believe Iridium Certus complements this perfectly by bringing never-before-possible, mission-critical broadband capabilities to the warfighter,” said Matt Desch, CEO, Iridium. “We’re excited to partner with COMSAT, who brings innovation and a broad portfolio of capabilities to the table, and we look forward to working together for many years to come.”

Iridium Certus is planned for commercial availability in mid-2018. Iridium NEXT is the Company’s next-generation satellite constellation, which will replace its existing network.  To date, there have been four successful Iridium NEXT launches, deploying more than half of the new constellation. Four additional launches are planned for 2018.

For more information about Iridium Certus, please visit https://www.iridium.com/company/industryleadership/iridiumcertus

For more information about COMSAT, Inc., please visit http://www.comsat.com/

For more information about Iridium NEXT, please visit www.IridiumNEXT.com

About COMSAT Inc.

COMSAT, Inc. is a leading operator of customized, secure end-to-end satellite communications services. We deliver a full portfolio of fixed satellite solutions (C-Band, Ku-Band, Ka-Band, X-Band and UHF), mobile satellite solutions (Inmarsat, Thuraya and Iridium) to aeronautical, land-mobile and maritime users in multiple markets, including U.S. government and military, global governments, educational

institutions and commercial maritime. COMSAT owns and operates two teleports located in Southbury, CT and Santa Paula, CA that provide various teleport and data center services to commercial, government and educational institutions world-wide including end to end connectivity, co-location and research efforts, critical data backup and recovery, satellite and terrestrial network data center, cloud and cybersecurity services.

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. The company has a major development program underway for its next-generation network — Iridium NEXT. 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 deployment and capabilities of the Iridium NEXT constellation and products and services to be offered over the constellation, including Iridium Certus, as well as the potential market for such products and services. 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 potential delays in the Iridium NEXT deployment, the development and functionality of Iridium NEXT and related 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, 2016, filed with the Securities and Exchange Commission (the “SEC”) on February 23, 2017, 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.
+1 (646) 872-0067
Jordan.Hassin@iridium.com
Twitter: @IridiumComm

Investor Contact:

Kenneth Levy
Iridium Communications Inc.
+1 (703) 287-7570
Ken.Levy@iridium.com
Twitter: @IridiumIR


Source: Av News Feed

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Iridium to Participate at March Conferences

Feb 16, 2018

Iridium to Participate at March Conferences

MCLEAN, Va., Feb. 16, 2018 (GLOBE NEWSWIRE) — Iridium Communications Inc. (Nasdaq:IRDM) (“Iridium”) today announced that Chief Financial Officer Thomas J. Fitzpatrick is scheduled to participate in three conferences in March:

  • The Deutsche Bank 26th Annual Media, Telecom & Business Services Conference on Monday, March 5, 2018 at 10:55 a.m. ET.
  • The Raymond James 39th Annual Institutional Investors Conference on Tuesday, March 6, 2018 at 4:35 p.m. ET.
  • The 2018 Wells Fargo Satellite Forum on Thursday, March 15, 2018 at 9:30 a.m. ET.

A live webcast of each event will be available in the Investor Relations section of Iridium’s website at http://investor.iridium.com/events.cfm.  The webcasts will be archived at the same location for 30 days.

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.  The company has a major development program underway for its next-generation network – Iridium NEXT.  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.  IRDM-F

Investor Contact:                                                         

Kenneth Levy 
Iridium Communications Inc.
+1 (703) 287-7570
ken.levy@iridium.com

Press Contact:

Jordan Hassin
Iridium Communications Inc.
+1 (703) 287-7421
jordan.hassin@iridium.com


Source: Av News Feed

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