MCLEAN, Va., Aug. 1, 2013 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium") today reported financial results for the second quarter of 2013 and updated its full-year 2013 and long-range financial outlook. Net income was $15.4 million, or $0.18 per diluted share, for the second quarter of 2013, as compared to $17.7 million, or $0.23 per diluted share, for the second quarter of 2012. Operational EBITDA ("OEBITDA") (1) for the second quarter was $51.1 million, as compared to $52.0 million for the prior-year period, representing a year-over-year decline of 2 percent and an OEBITDA margin (1) of 54 percent. OEBITDA fell largely due to a decrease in equipment revenue and a $1.9 million charge related to higher projected warranty costs.
Iridium Announces Second-Quarter 2013 Results; Company Updates 2013 And Long-Range Outlook
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