Iridium Communications Inc. Reports 55% Gain In Q3 Earnings

(RTTNews) - Iridium Communications Inc. (IRDM) reported earnings for its third quarter that increased from last year.

The company said its bottom line rose to $25.69 million, or $0.24 per share. This was higher than $16.53 million, or $0.17 per share, in last year's third quarter.

Analysts had expected the company to earn $0.19 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.4% to $106.03 million. This was down from $107.49 million last year.

Iridium Communications Inc. earnings at a glance:

-Earnings (Q3): $25.69 Mln. vs. $16.53 Mln. last year. -Earnings Growth (Y-o-Y): 55.4% -EPS (Q3): $0.24 vs. $0.17 last year. -EPS Growth (Y-o-Y): 41.2% -Analysts Estimate: $0.19 -Revenue (Q3): $106.03 Mln vs. $107.49 Mln last year. -Revenue Change (Y-o-Y): -1.4%