Iridium Communications (IRDM) Tops Q2 EPS by 2c; Trims FY15 Growth Outlook

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Go back to Iridium Communications (IRDM) Tops Q2 EPS by 2c; Trims FY15 Growth Outlook

Iridium Announces Second-Quarter 2015 Results; Company Updates 2015 and Long-Range Outlook

July 30, 2015 7:01 AM EDT

MCLEAN, Va., July 30, 2015 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today reported financial results for the second quarter of 2015 and updated its full-year 2015 and long-range outlook. Net income was $26.0 million, or $0.21 per diluted share, for the second quarter of 2015, as compared to $15.0 million, or $0.14 per diluted share, for the second quarter of 2014. Operational EBITDA ("OEBITDA")(1) for the second quarter was $61.0 million, as compared to $54.7 million for the prior-year period, representing a year-over-year increase of 12% and an OEBITDA margin(1) of 60%. OEBITDA grew largely due to higher government service revenue and lower product warranty... More