Iridium Communications Inc. Q1 Profit Advances, Beats estimates

(RTTNews) - 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.