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MCLEAN, Va. (AP) _ Iridium Communications Inc. (IRDM) on Thursday reported a loss of $7.9 million in its fourth quarter.
The McLean, Virginia-based company said it had a loss of 6 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The satellite phone company posted revenue of $146.5 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $139.4 million.
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For the year, the company reported that its loss narrowed to $56.1 million, or 42 cents per share. Revenue was reported as $583.4 million.
Iridium shares have climbed 21% since the beginning of the year. The stock has increased 65% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IRDM at https://www.zacks.com/ap/IRDM
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