Iridium Communications Inc. Bottom Line Falls 8% In Q2

(RTTNews) - Iridium Communications Inc. (IRDM) announced a profit for second quarter that dropped from last year.

The company said its profit came in at $24.8 million, or $0.20 per share. This was lower than $26.9 million, or $0.22 per share, in last year's second quarter.

Analysts had expected the company to earn $0.18 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.2% to $111.60 million. This was up from $109.20 million last year.

Iridium Communications Inc. earnings at a glance:

-Earnings (Q2): $24.8 Mln. vs. $26.9 Mln. last year. -Earnings Decline (Y-o-Y): -7.8% -EPS (Q2): $0.20 vs. $0.22 last year. -EPS Decline (Y-o-Y): -9.1% -Analysts Estimate: $0.18 -Revenue (Q2): $111.60 Mln vs. $109.20 Mln last year. -Revenue Change (Y-o-Y): 2.2%

-Guidance: Full year revenue guidance: $440 - $465 Mln