Iridium Communications Q3 Profit Increases

(RTTNews) - Iridium Communications (IRDM) Thursday reported an increase in third quarter profit attributable to $27.696 million from $25.688 million last year. On average, 6 analysts polled by Thomson Reuters expected the company to earn $0.24 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased to $112.79 million from $106.034 million in the prior year. Wall Street expected $111.21 million.

Looking ahead to the full year 2016, the company revised its total service revenue to increase 5 to 6 percent, while its earlier outlook was for a growth of 4 to 6 percent. Operational EBITDA is expected to be $250 to $255 million. Street expectation is for revenue of $433. 58 million.

Long range outlook for the full year 2019 is in a range of $440 to $465 million and operational EBITDA is expected to be around 60 percent in 2019.