guess, world least many times. the we without very temporarily around Thanks, the are starting pandemic it Ken. that current living some are some at effects This businesses morning, changed fortunes Well, saying of interesting in to feel we goes global I everyone. Good has and too.
strong, quite year. global to lockdown the clouds Now underway while of the our and social the business was first our visibility quarter rest
the During have our April trends that today’s coloring and will outlook. we they how through are call, seen share we
that resilient many You we be model forecasting will our happy and for business unlike comments to other are is our from growth companies, the full-year. see still
health outbreak. let First, and took and virus precautions operations ensure responsive cadence customers Iridium’s to onset employees two that We remain to the our the the We employees. months almost me our the maintained. safety of of to address of during our ensure our operational ago wanted protect partners, quickly was
satellite to well essential customers. in our facilities were ground The as or labs our product as needed operate shipment employees identified utilize testing our and in facilitate that to equipment work and networks,
very effective. all been retrospect in decisions So have
the We were close-knit corporate we beat terms remote actually are social meet a world. with partners to in interactions business and physically around security working you, really for and well-prepared of of even quite IT our fit work advanced. missed environment of travel We operations a in as like, for office camaraderie all and though, the the long ongoing haven’t to
stock I any equipment having can We significant aren’t inventory report supply in is expected shape have should Difficulty] and good our [Technical that also chain sufficient issues. meet we to as
Tom strength to times. strong underlying the and is indicative me numbers, were results strong performance Our while our will business to to the walk quarter the through I during first leave it of normal of
an in environment, have anything to the typified and strong trend entirely March, the seen. we have unlike seem lockdown, the which quarter to new the that weeks XXXX final started entered and with first April slow, world previously and of In in whole is we
XXXX, during the largely the perspective, services the historical weren’t mission role for play for recession critical much around and of affected thanks world. enterprises market to governments and Now we global our crash
past or however different XXXX from cycles. very current is The climate other
companies distancing Social hold there’s healthy for that. put has and precedent on not much
So understand impacts what long last be. how the COVID-XX, working to to effects long-term the are the will it try day-by-day of all we will and through
partners Our completing same operational installations opportunities. are restrictions our the experiencing closing and are visiting in of with business terms we business customers, and new new
understand for with in We are their the close year. customer behavior expectations rest keeping industries respective in of contact of to them the their and the changes
our is we in quickly outlook, no from sit set how where While this chain things based back and all customer on are will is return normal. to consensus there assumptions of own helping inform we our working the upon value
Based upon this, we have outlook. revised our full your
comfortable but that’s confirming EBITDA levels, this still can we to service XXXX grow time. are that operational as expect over we at and We as go far revenue
Remember, the of There across how variables by businesses and fully it each many effects is in are how spurred virus current uncertainties last a the and long cycle on the to Iridium too different lockdown. many -- will touches globe reopen. shutdown to long the understand industries different the it may for economic to and take responding will
can at XXXX a albeit to subscriber pace. at we point, see in slower what this grow From continue count should
overall lower We lower though expect contracts also revenue high usage. that XXXX due our increased levels, driven at certain contractual will levels, and to by margin step-ups ARPU from grow service in subscriber
line prudent they sales current clear, the the with Equipment for were in plan quarter, are to slowdown. in expectations a first makes our while environment economic less it
impact the bottomline. margins contributes our service equipment Given revenue, our to dramatic that isn’t of lower as the slowdown on
Engineering holding year programs these this to Government seem be projects execute dedicated to customer also to well their on has the funding U.S. us. expected for and as up services with our continue primary revenues for is engineering
Iridium cash for remains and the most important to strong takes our for Despite theme these XXXX, all puts free ability generate flow.
recent about slowdowns enthusiastic very theme We intact years and seeing. much business in are strong and is that have been flow cash despite its of transformation vocal free our still the we
in of Iridium the Capital cash NEXT to rather significant continue challenges facing down sheet. we and our financial deliver our former delever are program than and of This to year, requirements these plan we several by facility. we in when free still balance are ago XXXX will We the very middle the credit years flow that were fortunate
our and to the So shareholders still return much capital are plans on financial horizon. to very transformation
are to appreciate might of that maritime, the oil still am you of specific their I in more the revenues. and at effects businesses we our terminals. our would the gas and this about from it and partners sure pandemic installation it particularly it relates aviation, seeing Overall, and that how are as effects in time greatest appears affect
sales phone business. in for our satellite a seeing also stronger and are legacy season We disruption the activation summer typically
service with flight drastic down safety were revenues decrease aviation, In usage in the hours.
So can think. many deactivations and we cards a as SIM commercial that are aircraft you not expect customers might flight exercise on will cumbersome be of eventually schedules seeing as recover. Deactivation
lower in home Oil prices less. business slowdown low and work and gas from a to experiencing due that and travel their are oil demand people partners
decline next until virus a resume. for to Iridium see cruise are cruise on Certus, will On due slower the port but maritime front, onboard previously experiencing while very temporary activations concerns we expect want of we experience the in anticipated Iridium than of are in installers not as ships installations to the external the terminals very strong but it can quarter in transmission. don’t still in interest industry, well-publicized We exposed Certus slowdown to activations
The industry most true the service that and offers now is very reliable news good feedback are from users and remains maritime appreciates available Iridium coverage. that positive. we only satellite global provide fastest The company the L-Band the can
year and Iridium know for We future. Certus hold vehicle out important and is an that this high continue fiscal expectations growth to the broadband service into our of
However, be, confident peg it lot will XXXX are but continue we are what current sense they be to revenues. try a will makes year-end will than the environment They be they no higher in they to today. to
revenues that track growth can tables. yourselves and now for breaking quarter-by-quarter are subscribers our You we financial broadband in the out
related that are stores The a we way IoT Two companies are few activation that’s COVID-XX Garmin weeks in ongoing seeing personal discussion worthy communicators have sudden the that slowdown like for consumer area. often pandemic. closed of is a to retail sold through big other product been the from in with quite and impact
the to expect and see in year down expecting that to normal shut are We than as hitting season the would growth. right most activation we be them the this it’s lower virus
of that they particularly in number own us have also are but hampered these partners end are expect IoT if their to dependent since on other slower more A their growing COVID solutions normal and told something past. Many than the back customers to restrictions things the in by in business, businesses. IoT get back are bounce slowdown global
company our excellent our though in we clear it of breadth today. complete partners, will position let be that me with the even don’t and financial yet COVID-XX very long a how or impact know depth and subscribers ultimately Overall, strong liquidity is
operating coming off a two quarter’s to value new are well-timed consolation, another financings cash brand continue competitive our months, during flow, free demonstrates generate great completed which and performance our last that significant helping is leverage are position. We six the
U.S. don’t much seen area and we expect haven’t see with is one to Government. Now impact the
price the fortunate are slowdown. have services seven-year fixed to current new with We for completed economic year the contract last before customer this our legacy
seen government’s installation underway programs not them, all private We Iridium the with impact Coronavirus are Certus gateway. much the the engineering at the of also including of on
and provide and to it ADS-B. using aircraft gears on and The impact crisis its had Aireon, Switching controllers promise of to operational to has continues for reduced Aireon’s surveillance on deliver an has significantly traffic efficiency to revenues. improve by total the outsized the air in aircraft COVID-XX will impact number traffic, and controlled some aircraft commercial on being global have the results This aviation near-term number NSPs. which of flights safety
based consumer are their Overall, facility a travel sign base on hours. $XXX company the million a part strong new to revenue backing that’s including air solid credit continues has of they less financial will revenue for reduce and the demand flight Aireon contracts, of accessing. While
that and they well and business high current, Aireon are confidence we contractually hosting on to in remains their continue data execute them objectives. contracts Iridium’s to are stay expect with year. and Aireon price way this our Overall, and fixed service
his So to demonstrating that me to are durable. we unprecedented just going as I the times that Tom business re-emphasize turn over itself the quite is for through, let call despite Iridium’s comments, be
are applications We are important that around and stream of the with well unique. and customers globe diverse positioned income, a
one as it and this Our proved its XXXX well. will wholesale business resilience see in model downturn through the we
that will believe up more current I. our partners I many in do forward the as get in and all terms and and strong right other back flow now. know Hopefully companies pull that stacks We growth. sectors against to our other satellite crisis well soon look something cash companies employees of to continuing through we normal
over Tom? turn financials, of With it Tom that, I to our a review will for
