WASHINGTON (dpa-AFX) - Below are the earnings highlights for Iridium Communications Inc. (IRDM):-Earnings: -$7.93 million in Q4 vs. -$107.86 million in the same period last year. -EPS: -$0.06
Iridium Announces 2020 Results; Company Issues 2021 Outlook
- 2020 subscriber growth resilient in face of pandemic
- Announces $300.0 million share repurchase authorization
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MCLEAN, Va., Feb. 11, 2021 /PRNewswire/ Iridium Communications Inc. (Nasdaq: IRDM) ( Iridium ) today reported financial results for the fourth quarter of 2020 and issued its full-year 2021 guidance. Net loss was $7.9 million, or $0.06 per diluted share, for the fourth quarter of 2020, as compared to net loss of $107.9 million, or $0.82 per diluted share, for the fourth quarter of 2019. This improvement was primarily the result of debt extinguishment costs associated with Iridium s refinancing in the fourth quarter of 2019, which did not recur in 2020. Operational EBITDA ( OEBITDA )
Shares of Iridium Communications (NASDAQ:IRDM) rose 3.2% in pre-market trading after the company reported Q4 results.
Quarterly Results
Earnings per share .
Iridium Adds Kyoritsu Radio as Iridium Certus® Service Provider with Distribution Support from Furuno
Iridium Communications Inc. announced the addition of Kyoritsu Radio Service Co., Ltd as an Iridium Certus® service provider. Through this agreement, Kyoritsu Radio will also support the provisioning of Iridium Certus service by Furuno Electric Co., Ltd, expanding their portfolio of Iridium® satellite communication services. The Iridium Certus service is ideal for cargo ships, tankers, fishing vessels, workboats, and other watercraft as a primary or VSAT companion satellite communications solution. Operating on the Iridium network, it features truly global coverage and offers the fastest L-band speeds in the industry.
Monolithic Power Systems To Replace TechnipFMC In S&P 500: S&P Dow Jones Indices
WASHINGTON (dpa-AFX) - S&P Dow Jones Indices said that Monolithic Power Systems Inc. (MPWR) will replace TechnipFMC plc (FTI) in the S&P 500, S&P SmallCap 600 constituent Iridium Communications Inc. (IRDM) will replace Monolithic Power Systems in the S&P MidCap 400, and Collegium Pharmaceutical Inc. (COLL) will replace Iridium Communications in the S&P SmallCap 600 effective prior to the opening of trading on February 12.
TechnipFMC is being removed from the S&P 500 in anticipation of its announced spin-off of Technip Energies in a transaction expected to be completed on or about February 16. Technip Energies is expected to trade in ADR form in the OTC or over-the-counter market.