Iridium Communications (IRDM) Misses Q3 EPS by 6c, Revenues Beat; 'Raises FY Guidance for Total Svcs Revenue & Operational EBITDA'

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Go back to Iridium Communications (IRDM) Misses Q3 EPS by 6c, Revenues Beat; 'Raises FY Guidance for Total Svcs Revenue & Operational EBITDA'

Iridium Announces Third-Quarter 2018 Results; Company Raises 2018 Outlook

October 25, 2018 7:01 AM EDT

MCLEAN, Va., Oct. 25, 2018 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today reported financial results for the third quarter of 2018 and updated its full-year 2018 outlook.  Net loss was $12.9 million, or $0.13 per diluted share, for the third quarter of 2018, as compared to net income of $29.3 million, or $0.23 per diluted share, for the third quarter of 2017.  This decrease in net income was primarily the result of a $39.2 million increase in depreciation and amortization expense from the year-ago period, reflecting an increased number of Iridium NEXT satellites in service.  Operational EBITDA ("OEBITDA")(1) for the... More