Iridium Communications Inc. Profit Rises In Q1, Beats estimates

(RTTNews) - Iridium Communications Inc. (IRDM) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $9.78 million, or $0.08 per share. This compares with $2.82 million, or $0.02 per share, in last year's first quarter.

Analysts on average 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 22.0% to $205.27 million from $168.22 million last year.

Iridium Communications Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $9.78 Mln. vs. $2.82 Mln. last year. -EPS (Q1): $0.08 vs. $0.02 last year. -Analyst Estimate: $0.00 -Revenue (Q1): $205.27 Mln vs. $168.22 Mln last year.