Iridium Communications (IRDM) Tops Q2 EPS by 3c, Revenues Beat
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Iridium Announces Second-Quarter 2020 Results; Updates 2020 Outlook
July 28, 2020 7:01 AM EDTMCLEAN, Va., July 28, 2020 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today reported financial results for the second quarter of 2020 and updated its full-year 2020 outlook. Net loss was $12.4 million, or $0.09 per diluted share, for the second quarter of 2020, as compared to net loss of $18.1 million, or $0.16 per diluted share, for the second quarter of 2019. This decrease in net loss was primarily the result of lower net interest expenses related to the refinancing of Iridium's credit facility and high-yield notes from the year ago period and a decline in in-orbit insurance costs and... More
