UPDATE: Raymond James Upgrades Iridium Communications (IRDM) to Strong Buy as Buybacks are Back
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Iridium Announces 2021 Results; Company Issues 2022 Outlook
February 17, 2022 7:00 AM ESTMCLEAN, Va., Feb. 17, 2022 /PRNewswire/ --Â Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today reported financial results for the fourth quarter and full-year 2021 and issued its full-year 2022 guidance. Net loss was $5.9 million, or $0.04 per diluted share, for the fourth quarter of 2021, as compared to net loss of $7.9 million, or $0.06 per diluted share, for the fourth quarter of 2020. This improvement was primarily the result of higher commercial service revenue and lower interest expense. Operational EBITDA ("OEBITDA")(1) for the fourth quarter was $93.4 million, as compared to $84.8 million for the prior-year period, representing a year-over-year increase of 10% and an OEBITDA margin(1) of 60%.
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