Iridium Communications Inc. Profit Drops In Q1

(RTTNews) - Iridium Communications Inc. (IRDM) announced earnings for first quarter that decreased from the same period last year.

The company's earnings totaled $11.47 million, or $0.07 per share. This compares with $37.95 million, or $0.30 per share, in last year's first quarter.

Analysts had expected the company to earn $0.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.1% to $119.15 million from $104.43 million last year.

Iridium Communications Inc. earnings at a glance:

-Earnings (Q1): $11.47 Mln. vs. $37.95 Mln. last year. -EPS (Q1): $0.07 vs. $0.30 last year. -Analysts Estimate: $0.00 -Revenue (Q1): $119.15 Mln vs. $104.43 Mln last year.