Iridium Communications (IRDM) Misses Q4 EPS by 60c, Offers Outlook

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Go back to Iridium Communications (IRDM) Misses Q4 EPS by 60c, Offers Outlook

Iridium Completes Milestone Year; Company Announces 2019 Results And Issues 2020 Outlook

February 25, 2020 7:01 AM EST

MCLEAN, Va., Feb. 25, 2020 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today reported financial results for the fourth quarter of 2019 and issued its full-year 2020 guidance. Net loss was $107.9 million, or $0.82 per diluted share, for the fourth quarter of 2019, as compared to net loss of $7.6 million, or $0.09 per diluted share, for the fourth quarter of 2018. This increase in net loss was primarily the result of debt extinguishment costs associated with Iridium's refinancing, as well as higher interest expense and depreciation and amortization expense related to the completion of the Iridium® NEXT program. Operational... More