MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Iridium Communications Inc. (IRDM) on Thursday reported fourth-quarter profit of $36.3 million.
The McLean, Virginia-based company said it had net income of 31 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The satellite phone company posted revenue of $213 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $203.8 million.
For the year, the company reported profit of $112.8 million, or 94 cents per share. Revenue was reported as $830.7 million.
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