Iridium Communications (IRDM) Reports Q1 EPS of $0.07

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Go back to Iridium Communications (IRDM) Reports Q1 EPS of $0.07

Iridium Announces First-Quarter 2018 Results; Company Affirms 2018 and Long-Range Outlook

April 26, 2018 7:01 AM EDT

MCLEAN, Va., April 26, 2018 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (Nasdaq: IRDM) (Iridium) today reported financial results for the first quarter of 2018 and affirmed its full-year 2018 and long-range outlook.  Net income was $11.5 million, or $0.07 per diluted share, for the first quarter of 2018, as compared to $37.9 million, or $0.30 per diluted share, for the first quarter of 2017.  This decrease in net income was primarily the result of a $25.0 million increase in depreciation and amortization expense compared to the year-ago period and the recognition of a $14.2 million gain in the prior year period triggered by the Companys insourcing transaction with... More