Iridium Communications (IRDM) Gains Despite Earnings Miss

NEW YORK (TheStreet) -- Iridium Communications (IRDM) was gaining 10.1% to $6.88 Thursday despite missing analysts' earnings estimates for the quarter.

For the fourth quarter the satellite communications company posted earnings of 18 cents a share, missing the Capital IQ Consensus Estimate of 21 cents a share by 3 cents. Revenue rose 6.4% from the year-ago quarter to $98.2 million while analysts predicted revenue of $98.89 million.

The company expects revenue to grow by 2% to 4% for the full-year 2014. Iridium expects full-year 2014 OEBITDA between $205 million and $215 million. OEBITDA for 2013 was $201.1 million.

Must read: Iridium Communications Stock Sees Short Interest Increase 10.6%

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TheStreet Ratings team rates IRIDIUM COMMUNICATIONS INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate IRIDIUM COMMUNICATIONS INC (IRDM) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and a generally disappointing performance in the stock itself."

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