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MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Iridium Communications Inc. (IRDM) on Thursday reported a loss of $1.6 million…
MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Iridium Communications Inc. (IRDM) on Thursday reported a loss of $1.6 million in its third quarter.
The McLean, Virginia-based company said it had a loss of 1 cent per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The satellite phone company posted revenue of $197.6 million in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $199.8 million.
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