Iridium Communications (IRDM) Tops Q3 EPS by 8c, Offers Outlook

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Go back to Iridium Communications (IRDM) Tops Q3 EPS by 8c, Offers Outlook

Iridium Announces Third-Quarter 2020 Results; Improves 2020 Outlook

October 20, 2020 7:01 AM EDT

MCLEAN, Va., Oct. 20, 2020 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today reported financial results for the third quarter of 2020 and updated its full-year 2020 outlook. Net loss was $4.0 million, or $0.03 per diluted share, for the third quarter of 2020, as compared to net loss of $18.0 million, or $0.14 per diluted share, for the third quarter of 2019.  This decrease in net loss was primarily the result of lower net interest expenses related to the refinancing of Iridium's credit facility and high-yield notes from the year ago period.  Also contributing to the improvement was growth in... More