Iridium Communications (IRDM) Reports Q1 Loss Per Share of $0.24, Offers Guidance

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Go back to Iridium Communications (IRDM) Reports Q1 Loss Per Share of $0.24, Offers Guidance

Iridium Announces First-Quarter 2020 Results; Company Updates 2020 Outlook

April 28, 2020 7:01 AM EDT

MCLEAN, Va., April 28, 2020 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today reported financial results for the first quarter of 2020 and updated its full-year 2020 outlook. Net loss was $31.7 million, or $0.24 per diluted share, for the first quarter of 2020, as compared to net loss of $18.0 million, or $0.18 per diluted share, for the first quarter of 2019. This increase in net loss was primarily the result of debt extinguishment costs associated with Iridium's refinancing of its senior unsecured notes. Operational EBITDA ("OEBITDA")(1) for the first quarter was $92.1 million, as compared to $78.0 million for the... More