RigNet (RNET) Misses Q1 EPS by 2c, Revenue Beats

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Go back to RigNet (RNET) Misses Q1 EPS by 2c, Revenue Beats

RigNet Announces First Quarter 2014 Earnings Results

May 12, 2014 4:00 PM EDT

Revenue was a record $75.0 million for the first quarter, including $13.7 million from the Enterprise Energy business unit recently acquired from Inmarsat. Organic revenue increased by $8.5 million, or 16.1%, over the same quarter last year Adjusted EBITDA was a record $16.2 million in the first quarter, or 21.6% of revenue, including $1.0 million from the recently acquired business unit. Organic adjusted EBITDA increased by 20.5% over the same quarter last year Excluding acquisition costs, quarterly net income attributable to common stockholders was $4.5 million, or $0.25 per diluted share, an increase of $0.03 per diluted share, or 13.6%, over the same quarter last... More