RigNet (RNET) Tops Q3 EPS by 1c

RigNet (NASDAQ: RNET) reported Q3 EPS of ($0.09), $0.01 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $50.6 million versus the consensus estimate of $52.37 million.

Steven E. Pickett, chief executive officer and president, commented, "Despite continued headwinds in the energy market, we are pleased with the progress we have made related to cost containment and capex management, which helped improve our Unlevered Free Cash Flow to $6.6 million for this quarter. We remain focused on continuing implementation of initiatives to improve operating leverage of the Company, developing a broad range of SaaS and cyber security solutions for our customers, and growing our business in new vertical markets."

For earnings history and earnings-related data on RigNet (RNET) click here.

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