MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Iridium Communications Inc. (IRDM) on Thursday reported a loss of $808,000 in its fourth 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 three analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The satellite phone company posted revenue of $193.8 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $174.9 million.
For the year, the company reported net income of $8.7 million, or 7 cents per share, swinging to a profit in the period. Revenue was reported as $721 million.
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