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MCLEAN, Va. (AP) _ Iridium Communications Inc. (IRDM) on Tuesday reported second-quarter net income of $3.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the McLean, Virginia-based company said it had profit of 3 cents.
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 $149.9 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $147.7 million.
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Iridium shares have declined 4.5% since the beginning of the year. The stock has climbed 43% 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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