Iridium Communications Inc. Q1 Earnings Rise 38%

(RTTNews) - Iridium Communications Inc. (IRDM) released a profit for its first quarter that climbed from last year.

The company said its bottom line rose to $34.09 million, or $0.30 per share. This was up from $24.66 million, or $0.23 per share, in last year's first quarter.

Analysts had expected the company to earn $0.20 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 0.2% to $104.43 million. This was up from $104.20 million last year.

Iridium Communications Inc. earnings at a glance:

-Earnings (Q1): $34.09 Mln. vs. $24.66 Mln. last year. -Earnings Growth (Y-o-Y): 38.2% -EPS (Q1): $0.30 vs. $0.23 last year. -EPS Growth (Y-o-Y): 30.4% -Analysts Estimate: $0.20 -Revenue (Q1): $104.43 Mln vs. $104.20 Mln last year. -Revenue Change (Y-o-Y): 0.2%