Iridium Communications Reports Strong Q4 Earnings, Surpassing Wall Street Expectations
McLean, Va. - Iridium Communications Inc. (IRDM) announced a fourth-quarter profit of $36.3 million on Thursday. The McLean-based company reported earnings per share of 31 cents, exceeding analysts' expectations.
A consensus of five analysts polled by Zacks Investment Research estimated earnings of 16 cents per share. Iridium's revenue for the quarter reached $213 million, also surpassing market projections. Six analysts surveyed by Zacks had predicted revenue of $203.8 million.
For the full year, Iridium reported a profit of $112.8 million or 94 cents per share. Annual revenue came in at $830.7 million.