Iridium Communications Reports Net Loss In Q4, Including Charges - Quick Facts

(RTTNews) - Iridium Communications Inc. (IRDM) Thursday reported a fourth-quarter net loss of $69.4 million, or $0.77 per share, compared with earnings of $23 million, or $0.19 per share last year. The latest quarterly results included goodwill impairment charges of $87 million, or $0.91 per diluted share.

Excluding charges, the company reported earnings of $17.6 million, or $0.14 per share.

Revenue for the three-month period was $106.4 million, a 6 percent rise from $100.5 million during the corresponding period last year,

Looking forward, Matt Desch, CEO, said, "Today, we affirmed our long-range outlook and issued 2016 full-year guidance. We expect the economic and currency headwinds that impacted our business in 2015 to carry over to 2016 and do not anticipate a turnaround in the commodity-oriented sectors that we serve in 2016."

For fiscal 2016, the company expects service revenue growth of 4-6 percent and OEBITDA of $245 million to $255 million.