RigNet Q1 Profit Declines - Quick Facts

(RTTNews) - RigNet, Inc. (RNET) reported first-quarter net income of $2.2 million or $0.12 per share, compared to $3.7 million or $0.22 per share for the year-ago quarter.

Excluding acquisition costs, adjusted net income for the latest quarter was $4.5 million or $0.25 per share.

Analysts polled by Thomson Reuters expected the company to earn $0.27 per share for the first quarter. Analysts' estimates typically exclude special items.

Revenue for the fourth quarter rose to $75.04 million from $52.82 million a year ago, while four analysts had a consensus revenue estimate of $66.26 million for the quarter.