Iridium Communications Inc. (NASDAQ:IRDM.B) Q4 2016 Earnings Conference Call - Final Transcript

Feb 23, 2017 • 08:30 am ET


Iridium Communications Inc. (NASDAQ:IRDM.B) Q4 2016 Earnings Conference Call - Final Transcript


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Good day ladies and gentlemen and welcome to the Iridium Fourth Quarter 2016 Earnings Conference Call. [Operator Instructions]

I would now like to hand the floor over to Ken Levy, Vice President Investor Relations. Please go ahead.

Kenneth Levy

Thanks, Karen. Good morning and welcome to Iridium's fourth quarter 2016 earnings call. Joining me on today's call our CEO, Matt Desch; and our CFO, Tom Fitzpatrick. Today's call, will begin with discussion or fourth quarter results followed by q&a. I trust you've had an opportunity to review this morning's earnings release, which is available on the investor relations section of Iridium's website.

Before I turn things over to Matt, I'd like to caution all participants that are come today may contain forward looking statements within the meaning of the private securities litigation Reform Act of 1995. Forward looking statements are statements that are not historical facts and include statements about our future

Expectations, plans and prospects. Such forward looking statements are based upon our current beliefs and expectations and are subject to risk, which could cause actual results to differ from the forward looking statements. Such risks are more fully disclosed in our filings with the Securities and Exchange Commission, our remarks today should be considered in light of such risks.

Any forward looking statements rep represent our views only as of today, and while we may elect to update forward looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our views or expectations change. During the call, we will also be referring to certain non gap financial measures. These non GAAP financial measures are not prepared in accordance with generally accepted accounting principles.

Please refer to today's earnings release and the investor relations section of our website for reconciliation of these non GAAP financial measures to the most directly comparable gap measures.

With that let me turn things over to Matt.

Matthew J. Desch

Thanks, Ken. And good morning, everyone. We have a lot. Good news report on today. As you know, we started out the year with a successful launch of our first 10 Iridium next satellites on January 14, and have made great progress since then and validating these new satellites.

As the launch was truly picture perfect, we had a clear day with moderate winds and I was happy to bear witness to this milestone event after so many years of planning.

As SpaceX has return to flight this launch received global media coverage and was a dramatic way to start our launch campaign. The launch was a success on every measure and SpaceX placed our first batch of Iridium next satellites, right where we needed them. I also want to acknowledge the good work of our prime satellite contractor -- space. We have a great relationship with a team there and I know they were just as excited as we were given all their work in the design testing manufacturer these Iridium next satellites, they've continued to stay on track with production