Iridium Communications (IRDM) Tops Q1 EPS by 5c
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Iridium Announces First-Quarter 2016 Results; Company Affirms 2016 and Long-Range Outlook
April 28, 2016 7:02 AM EDTMCLEAN, Va., April 28, 2016 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (Nasdaq: IRDM) (Iridium) today reported financial results for the first quarter of 2016 and affirmed its full-year 2016 and long-range outlook. Net income was $28.5 million, or $0.23 per diluted share, for the first quarter of 2016, as compared to $21.0 million, or $0.17 per diluted share, for the first quarter of 2015. Operational EBITDA (OEBITDA)(1) for the first quarter was $60.7 million, as compared to $52.5 million for the prior-year period, representing a year-over-year increase of 16% and an OEBITDA margin(1) of 58%. OEBITDA grew primarily due to higher government service revenue and increased sales of... More
