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To: djane who wrote (3247)	3/3/1999 1:59:00 PM
From: djane	Read Replies (1) \| Respond to of 29987

Iridium Kyocera Phones Still Experiencing Problems, CEO Says quote.bloomberg.com Iridium Kyocera Phones Still Experiencing Problems, CEO Says New York, March 3 (Bloomberg) -- Iridium LLC, provider of the world's first satellite-based global-telephone network, said it's still having technical problems with Kyocera Corp.'s phones. Last month, the company announced that it had approved Kyocera's satellite phones for commercial use and would begin distribution. ''Kyocera phone's have not yet hit the marketplace for distribution,'' said Iridium vice chairman and chief executive Edward Staiano, speaking at the Fourth Annual Bloomberg Telecom Day in New York City. Staino said the company found a last minute problem with the Kyocera phones. ''We're back now to fixing the problems,'' he said. There's a backlog order of 12,000 to 15,000 Kyocera phones, he said. Iridium said Monday it expects to fall short of first- quarter subscriber and revenue targets and that it will have to modify its credit agreement. Iridium blamed the shortfall on distribution problems such as shortages of phones and pagers, and a sales effort hampered by a lack of trained staff. The Washington-based company said it hasn't yet met with its bankers about its failure to meet its financial targets. Iridium's share's fell 1 3/16 to 20 3/8 in late morning trading. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min. Access More Information and Services Above ©1999 Bloomberg, LP. All rights reserved. Terms of Service and Trademarks.