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Iridium Boosts Maritime Safety & Communications With Certus GMDSS
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Iridium Communications Inc. (IRDM - Free Report) has launched Iridium Certus GMDSS, marking a significant leap in maritime safety, compliance and communication. These terminals redefine cost, efficiency and performance standards in maritime safety and security, becoming vital for any ship's hybrid network system, highlighted IRDM.
With the maritime industry facing increasing environmental, regulatory and technological demands, effective communication and safety are critical. Iridium Certus GMDSS provides fleets with global coverage and assurance that compliance and safety needs are met. In a rapidly evolving maritime sector, Iridium GMDSS offers a comprehensive and modern solution for safety and communication.
Leveraging Iridium Certus technology, Iridium Certus GMDSS incorporates distress alerts, safety voice and Maritime Safety Information (MSI), along with regulated services like Long Range Identification and Tracking (LRIT) and Ship Security Alert System (SSAS). By combining GMDSS, LRIT and SSAS in Iridium Certus terminals, the maritime industry gains a unified, versatile and reliable communication solution. Leading equipment manufacturers such as Cobham Satcom, Intellian, Lars Thrane and Thales will roll out Iridium Certus 700 and 200 GMDSS solutions in the coming months.
Iridium Certus GMDSS delivers global safety services with broadband and midband voice and data. Its compact, maintenance-free design is easy to install and meets International Maritime Organization SOLAS-class requirements. The system ensures continuous distress communication and emergency support. In emergencies, crews can quickly reach a rescue coordination center for rapid assistance. Iridium Certus GMDSS solutions are the “ideal companion” for any ship, ensuring continuous operations and essential connectivity, whether using GEO or LEO broadband providers, Iridium stated.
McLean, VA-based IRDM is a leading provider of mobile voice and data satellite communications network with an augmented global footprint. It partners with private, government and non-governmental organizations in the United States and beyond, catering to a robust array of industries from aviation, emergency services, mining, forestry, maritime, oil and gas to transportation and utilities.
IRDM Gains From Deal Wins & Subscriber Growth
Continued momentum in the commercial service segment as well as engineering and support service business is driving IRDM’s revenues.
Iridium is benefitting from a highly lucrative recurring service revenue base. In the second quarter of 2024, total service revenues rose 5% year over year to $152.5 million, owing to strong recurring revenues from an expanding subscriber base.
Owing to lucrative deal wins from the U.S. government, particularly the ongoing projects on the Space Development Agency, the engineering and support revenues saw a 25% surge from the prior-year level.
Commercial services continued to be the largest segment of Iridium’s business (62.6% of second-quarter revenues), generating $126 million in revenues in the second quarter, marking a 6% increase from the previous year. This growth was fuelled by the rising demand for Internet of Things data and voice and data services.
IRDM’S Zacks Rank & Stock Price Performance
At present, IRDM carries a Zacks Rank #3 (Hold). Shares have lost 44.2% compared with the sub-industry’s decline of 31.3% in the past year.
Manhattan Associates delivered an earnings surprise of 26.6%, on average, in the trailing four quarters. In the last reported quarter, MANH pulled off an earnings surprise of 22.9%. The Zacks Consensus Estimate for MANH increased 9.2% in the past 60 days to $4.26.
ANSYS delivered an earnings surprise of 4.8%, on average, in three of the trailing four quarters. In the last reported quarter, ANSS pulled off an earnings surprise of 28.9%. It has a long-term earnings growth expectation of 6.4%.
Adobe delivered an earnings surprise of 2.7%, on average, in the trailing four quarters. In the last reported quarter, ADBE pulled off an earnings surprise of 2.1%. It has a long-term earnings growth expectation of 13%.
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Iridium Boosts Maritime Safety & Communications With Certus GMDSS
Iridium Communications Inc. (IRDM - Free Report) has launched Iridium Certus GMDSS, marking a significant leap in maritime safety, compliance and communication. These terminals redefine cost, efficiency and performance standards in maritime safety and security, becoming vital for any ship's hybrid network system, highlighted IRDM.
With the maritime industry facing increasing environmental, regulatory and technological demands, effective communication and safety are critical. Iridium Certus GMDSS provides fleets with global coverage and assurance that compliance and safety needs are met. In a rapidly evolving maritime sector, Iridium GMDSS offers a comprehensive and modern solution for safety and communication.
Leveraging Iridium Certus technology, Iridium Certus GMDSS incorporates distress alerts, safety voice and Maritime Safety Information (MSI), along with regulated services like Long Range Identification and Tracking (LRIT) and Ship Security Alert System (SSAS). By combining GMDSS, LRIT and SSAS in Iridium Certus terminals, the maritime industry gains a unified, versatile and reliable communication solution. Leading equipment manufacturers such as Cobham Satcom, Intellian, Lars Thrane and Thales will roll out Iridium Certus 700 and 200 GMDSS solutions in the coming months.
Iridium Certus GMDSS delivers global safety services with broadband and midband voice and data. Its compact, maintenance-free design is easy to install and meets International Maritime Organization SOLAS-class requirements. The system ensures continuous distress communication and emergency support. In emergencies, crews can quickly reach a rescue coordination center for rapid assistance. Iridium Certus GMDSS solutions are the “ideal companion” for any ship, ensuring continuous operations and essential connectivity, whether using GEO or LEO broadband providers, Iridium stated.
Iridium Communications Inc Price and Consensus
Iridium Communications Inc price-consensus-chart | Iridium Communications Inc Quote
McLean, VA-based IRDM is a leading provider of mobile voice and data satellite communications network with an augmented global footprint. It partners with private, government and non-governmental organizations in the United States and beyond, catering to a robust array of industries from aviation, emergency services, mining, forestry, maritime, oil and gas to transportation and utilities.
IRDM Gains From Deal Wins & Subscriber Growth
Continued momentum in the commercial service segment as well as engineering and support service business is driving IRDM’s revenues.
Iridium is benefitting from a highly lucrative recurring service revenue base. In the second quarter of 2024, total service revenues rose 5% year over year to $152.5 million, owing to strong recurring revenues from an expanding subscriber base.
Owing to lucrative deal wins from the U.S. government, particularly the ongoing projects on the Space Development Agency, the engineering and support revenues saw a 25% surge from the prior-year level.
Commercial services continued to be the largest segment of Iridium’s business (62.6% of second-quarter revenues), generating $126 million in revenues in the second quarter, marking a 6% increase from the previous year. This growth was fuelled by the rising demand for Internet of Things data and voice and data services.
IRDM’S Zacks Rank & Stock Price Performance
At present, IRDM carries a Zacks Rank #3 (Hold). Shares have lost 44.2% compared with the sub-industry’s decline of 31.3% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Manhattan Associates, Inc. (MANH - Free Report) , ANSYS, Inc. (ANSS - Free Report) and Adobe Inc. (ADBE - Free Report) . MANH presently sports a Zacks Rank #1 (Strong Buy) each, whereas ANSS & ADBE carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Manhattan Associates delivered an earnings surprise of 26.6%, on average, in the trailing four quarters. In the last reported quarter, MANH pulled off an earnings surprise of 22.9%. The Zacks Consensus Estimate for MANH increased 9.2% in the past 60 days to $4.26.
ANSYS delivered an earnings surprise of 4.8%, on average, in three of the trailing four quarters. In the last reported quarter, ANSS pulled off an earnings surprise of 28.9%. It has a long-term earnings growth expectation of 6.4%.
Adobe delivered an earnings surprise of 2.7%, on average, in the trailing four quarters. In the last reported quarter, ADBE pulled off an earnings surprise of 2.1%. It has a long-term earnings growth expectation of 13%.