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3 Min Read LONDON (Reuters) - Iridium has become the latest precious metal to undergo a spectacular price rally, after supply shortages and expectations it will be used to produce hydrogen to power a greener economy lifted its value by 160% in two months. The difficulty of raising output means prices could rise further, analysts said. A byproduct of platinum and palladium mining, iridium is vital for many industries. In shipping, it enables the chlorination of ballast water to stop vessels transporting invasive marine species, and for electronics, it is used in crucibles able to withstand the heat of crystal-making. It can also serve as a catalyst in electrolysis to split water into oxygen and hydrogen, which is increasingly in demand as a cleaner source of power than fossil fuels.
WASHINGTON (dpa-AFX) - Below are the earnings highlights for Iridium Communications Inc. (IRDM):-Earnings: -$7.93 million in Q4 vs. -$107.86 million in the same period last year. -EPS: -$0.06
>> we had no vhf, no range on it. no weather com, no ssb, single side band. we didn't have our ham radio. and our radio telephone inside the boat was not working. and also our iridium sat phone was not working. so we had no way to realize that we were about to enter a typhoon that had winds of 100 to 150 miles per hour and minimum wave heights of 40 foot in height. >> how it is possible that all of these different communications devices malfunctioned? >> they are dependent on the antenna. >> yes. >> and when the antenna went out, everything went out. >> so how did the women and their two dogs survive this long period at sea? they say they depend very heavily on a desalinization unit that basically purified ocean water for them to drink on board the sailboat.
and our radio telephone inside the boat was not working. and also our iridium sat phone was not working. so we had no way the realize that we were about to enter a typhoon that had winds of 100 to 150 miles per hour and minimum wave heights of 40 foot in height. >> how it is possible that all of these different communications devices malfunctioned? >> they are depend on the antenna. >> yes. >> and when the antenna went out, everything went out. >> so how did they survive? well that. >> said they had a water desalinization unit, that they were able to get drinking water from seawater, effectively. and that they had many, many months' worth of dried food stored, including dog biscuits for their dogs. and they also had a wind generator and solar cells that helped power their remaining functions devices. natalie? >> my goodness.
such things how it's possible to lose a 777 in the age of satellites and cell phones. you talked about a satellite network called iridium that can provide real-time information in the air. how does that work? >> reporter: it is the question that we've all been scratching our heads about. how do we lose this giant commercial airliner. iridium system was set up back in the '90s, a way for us to make phone calls from every corner of the globe. now they are relaunching it, rebranding it, if you will to not only provide the satellite phone technology but also provide this immediate real-time location information about airplanes. the company saying they are starting to launch these new satellites that will have this capability starting in 2015. have all 66 of these satellites which is a lot of satellites to replace vied this sort of service. if something had been in place
my phone can tell me where i am at any moment. right? why isn't there a device to do the same with an airliner? the answer to fixing this problem could already be in the sky. a satellite network called iridium. brent larson is here to explain how this could help. cnn technology analyst and editor of techbyte.com. explain iridium. >> it's interesting. it was a cell system they set up back in the late '90s so you could make cell phone calls from remote regions of world. they're being upgraded over the next couple of years so equipment could be put on airplanes so when an airplane is over water, which as we now know very clearly when it's over water it's almost untrackable, and this system will actually let that -- >> worldwide? >> worldwide. no matter where they go from pole to pole and even over the oceans they will be completely trackable in realtime. >> how long -- i mean, it's an old system. >> it's an old system. >> but they're updating it?
higher. after the bell, bed, bath, and beyond also got a list. it beat profit estimates. heading in the opposite direction, adobe systems off more than 6% because of a tepid growth forecast. today watch out for oracle, h&r block, and micron. they all report after the close. the winklevoss twins will not appeal the ruling against mark zuckerberg. they claim he stole their idea and for years have been trying to undo a $6 million deal they previously agreed to. now the twins have decided not to take their case to the supreme court. finally done with that. and you're not going to find this razor at your local drug store. that's because it costs $100,000. that's right. the company says it's made out of iridium, which is an extremely strong metal found in meteorites. if you want one, you've got to act quickly.
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