Internet-Connected Construction Equipment? Iridium Communications Says "Yes"

It's been a busy year for Iridium Communications (NASDAQ: IRDM). The company has been sending its next-generation satellite constellation into orbit, and the fruits of that labor are beginning to be realized. Here's what investors need to know.

Iridium is building 81 satellites -- dubbed NEXT satellites -- that will provide new services and capabilities for customers. Of the total, 66 will operate in-orbit, 15 will serve as in-orbit spares, and six will be held back as ground spares.

SpaceX has been hired to launch the satellites in eight batches. The first two were dispatched earlier this year, and the next six lift-offs will be complete by the end of 2018.

Source: Fool.com