Iridium Communications (IRDM) Tops Q3 EPS by 2c; Updates FY16, Longer-Range Outlooks
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October 27, 2016 8:30 AM EDT
MCLEAN, Va., Oct. 27, 2016 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (NASDAQ: IRDM) today announced an agreement with Komatsu Ltd. of Japan, the worlds second-largest manufacturer of heavy equipment for the construction and mining industries, to provide global asset tracking and monitoring for its KOMTRAX system, a system with over 400,000 KOMTRAX-equipped vehicles in the field today. This deal extends Iridiums leadership position in providing global satellite machine-to-machine (M2M) communications (also referred to as the Internet of Things (IoT)) within the heavy equipment industry.Â
This agreement enables Komatsu to integrate their vehicle... More
October 27, 2016 7:00 AM EDT
MCLEAN, Va., Oct. 27, 2016 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (Nasdaq: IRDM) (Iridium) today reported financial results for the third quarter of 2016 and updated its full-year 2016 and long-range outlook. Net income was $31.6 million, or $0.26 per diluted share, for the third quarter of 2016, as compared to $29.5 million, or $0.24 per diluted share, for the third quarter of 2015. Operational EBITDA (OEBITDA)(1) for the third quarter was $69.7 million, as compared to $63.8 million for the prior-year period, representing a year-over-year increase of 9% and an OEBITDA margin(1) of 62%. OEBITDA grew largely due to higher government service revenue and... More
