Iridium Communications Inc (IRDM) Releases Earnings Results, Misses Expectations By $-0.03 EPS

Iridium Communications Inc (IRDM) reported quarterly earnings results on Thursday, Jul-28-2016. The company reported $0.22 earnings per share for the quarter, missing the analyst consensus estimate by $-0.03. Analysts had a consensus of $0.25. The company posted revenue of $109.20 million in the period, compared to analysts expectations of $107.34 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.

Iridium Communications Inc closed down -0.24 points or -2.60% at $8.99 with 22,21,617 shares getting traded on Thursday. Post opening the session at $8.85, the shares hit an intraday low of $8.48 and an intraday high of $9.06 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Mar 2, 2016, Thomas C Canfield (director) purchased 5,000 shares at $6.95 per share price. According to the SEC, on Aug 6, 2015, Matthew J Desch (CEO) purchased 14,000 shares at $7.16 per share price.

Iridium Communications Inc. is a satellite communications company that offers global voice and data communications coverage. The Company provides voice and data communications services to businesses the United States and foreign governments non-governmental organizations and consumers via its constellation of 66 in-orbit satellites in-orbit spares and related ground infrastructure. The Company’s principal services include mobile satellite services including mobile voice and data services machine to machine (M2M) services and data. Its commercial services include postpaid mobile voice and data satellite communications services; prepaid mobile voice satellite communications services; broadband data services machine-to-machine services and other services. The Company’s commercial end user base includes markets such as emergency services maritime aviation government utilities oil and gas mining recreation forestry heavy equipment construction and transportation.

Iridium Communications Inc

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