Iridium Communications Inc. (IRDM) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $19.7 million, or $0.16 per share. This compares with $9.8 million, or $0.08 per share, in last year's first quarter.
Analysts on average had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 0.7% to $203.85 million from $205.27 million last year.
Iridium Communications Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $19.7 Mln. vs. $9.8 Mln. last year.
-EPS (Q1): $0.16 vs. $0.08 last year.
-Revenue (Q1): $203.85 Mln vs. $205.27 Mln last year.
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