Iridium Communications (IRDM) Tops Q1 EPS by 2c
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April 19, 2022 7:01 AM EDT
Record Equipment Sales Driven by Strong Demand
MCLEAN, Va., April 19, 2022 /PRNewswire/ --Â Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today reported financial results for the first quarter of 2022 and reiterated its full-year 2022 outlook. Net income was $2.8 million, or $0.02 per diluted share, for the first quarter of 2022, as compared to net loss of $5.2 million, or $0.04 per diluted share, for the first quarter of 2021. Operational EBITDA ("OEBITDA")(1) for the first quarter was $103.2 million, as compared to $89.8 million for the prior-year period, representing a year-over-year increase of 15% and an OEBITDA margin(1) of 61%.
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