Iridium Communications (NASDAQ: IRDM) reported Q1 EPS of ($0.18), $0.04 better than the analyst estimate of ($0.22). Revenue for the quarter came in at $133.7 million versus the consensus estimate of $128.34 million.

"Iridium enjoyed solid revenue and subscriber growth to start 2019, driven predominantly by strength in commercial services. New contributions from hosted payloads and continued momentum in commercial IoT are expected to be a tailwind to our business and support OEBITDA growth for the remainder of the year," said Matt Desch, CEO, Iridium.

Commenting on Iridium Certus® and Aireon LLC, Desch said, "Iridium Certus is positioned to be a best-in-class solution for L-band broadband users around the world. Demand for our new broadband service has continued to ramp since its formal launch in January, and activations are meeting our expectations." Desch added, "Our Aireon joint venture also launched its live air traffic surveillance and tracking service earlier this month. For the first time in history, aircraft can be surveilled anywhere on the planet. Aireon\'s real-time air traffic information will extend the reach of traditional terrestrial-based systems and radically optimize flight safety and efficiency. We are proud of this accomplishment and delighted to maintain a meaningful equity interest in this transformative company."

2019 Outlook

The Company affirmed its full-year 2019 outlook for total service revenue growth, OEBITDA, cash taxes, and net leverage.

The Company continues to expect:

• Total service revenue of approximately $440 million for the full-year 2019.
• OEBITDA of between $325 and $335 million in 2019. OEBITDA for 2018 was $302.0 million.
• Negligible cash taxes in 2019. Cash taxes are expected to be negligible through approximately 2023.
• Net leverage of approximately 4.5x OEBITDA at the end of 2019.

For earnings history and earnings-related data on Iridium Communications (IRDM) click here.