RigNet (RNET) Misses Q4 EPS by 9c
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RigNet Announces Fourth Quarter and Full Year 2015 Earnings Results
February 29, 2016 5:01 PM ESTQuarterly revenue of $61.8M without contract dispute, $52.2 million including the dispute, consisting of:- Managed Services revenue of $57.1 million, a decrease of 6.2% compared to prior quarter- Telecoms Systems Integration (TSI) revenue, excluding a project under contractual dispute, of $4.7 million, a decrease of 14.5% over prior quarter and;- Negative revenue adjustments of $9.6 million related to a TSI contractual dispute TSI segment incurred negative income adjustments totaling $15.6 million related to an ongoing project contractual dispute. These adjustments included:- Negative revenue adjustments of $9.6 million- Project costs and accruals of $6.0 million... More
