Iridium Communications (IRDM) Tops Q2 EPS by 2c; Affirms Outlook
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Iridium Announces Second-Quarter 2017 Results; Company Affirms 2017 Outlook
July 27, 2017 7:00 AM EDTMCLEAN, Va., July 27, 2017 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (Nasdaq: IRDM) (Iridium) today reported financial results for the second quarter of 2017 and affirmed its full-year 2017 outlook. Net income was $24.8 million, or $0.20 per diluted share, for the second quarter of 2017, as compared to $26.9 million, or $0.22 per diluted share, for the second quarter of 2016. Operational EBITDA (OEBITDA)(1) for the second quarter was $65.8 million, as compared to $62.5 million for the prior-year period, representing a year-over-year increase of 5% and an OEBITDA margin(1) of 59%. OEBITDA grew primarily due to higher commercial service revenue from the Companys machine-to-machine (M2M) business.
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