Iridium Communications (IRDM) Misses Q4 EPS by 1c
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Iridium Announces Fourth-Quarter and Full-Year 2016 Results; Company Issues 2017 Outlook
February 23, 2017 7:01 AM ESTMCLEAN, Va., Feb. 23, 2017 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (Nasdaq: IRDM) (Iridium) today reported financial results for the fourth quarter of 2016 and issued its full-year 2017 and long-range outlook. Net income was $24.1 million, or $0.19 per diluted share, for the fourth quarter of 2016, as compared to net loss of $69.4 million, or $0.77 per diluted share, for the fourth quarter of 2015. Net loss for the fourth quarter of 2015 included a non-cash goodwill impairment charge of $87.0 million, or $0.91 per diluted share. Adjusted to eliminate this non-cash goodwill impairment charge(1), net income would have been $17.6 million, or $0.14 per diluted share, for the... More
