{"id":63752,"date":"2018-10-26T01:11:37","date_gmt":"2018-10-25T17:11:37","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/iridium-sees-decrease-in-net-income-increase-in-oebitda-in-q3-2018-2\/"},"modified":"2018-10-26T01:11:37","modified_gmt":"2018-10-25T17:11:37","slug":"iridium-sees-decrease-in-net-income-increase-in-oebitda-in-q3-2018-2","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/iridium-sees-decrease-in-net-income-increase-in-oebitda-in-q3-2018-2\/","title":{"rendered":"Iridium Sees Decrease in Net Income, Increase in OEBITDA in Q3 2018"},"content":{"rendered":"<\/p>\n<p><strong>Iridium<\/strong> revealed its financial results for the third quarter of 2018 and updated its full-year 2018 outlook. Net loss was $12.9 million, or $0.13 per diluted share, for the third quarter of 2018, as compared to net income of $29.3 million, or $0.23 per diluted share, for the third quarter of 2017. According to the release, this decrease in net income was primarily the result of a $39.2 million increase in depreciation and amortization expense from the year-ago period, reflecting an increased number of Iridium Next satellites in service.<\/p>\n<p>Operational Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA \u201cOEBITDA\u201d) for the third quarter was $79.4 million, as compared to $71.8 million for the prior-year period, representing a year-over-year increase of 11 percent and an OEBITDA margin of 58 percent. OEBITDA benefitted from higher commercial service revenue and continued strength in equipment sales.<\/p>\n<p>Iridium reported third-quarter total revenue of $136.8 million, which consisted of $105.7 million of service revenue and $31.0 million of revenue related to equipment sales and engineering and support projects. Total revenue increased 17 percent versus the comparable period of 2017, while service revenue grew by 18% from the year-ago period. Service revenue, which represents primarily recurring revenue from Iridium\u2019s growing subscriber base, was 77 percent of total revenue for the third quarter of 2018.<\/p>\n<p>The Company ended the quarter with 1,092,000 total billable subscribers, which compares to 949,000 for the year-ago period and is up from 1,047,000 for the quarter ended June 30, 2018. Total billable subscribers grew 15 percent year-over-year, driven by growth in Internet of Things (IOT) and government customers.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iridium revealed its financial results for the third quarter of 2018 and updated its full-year 2018 outlook. Net loss was $12.9 million, or $0.13 per diluted share, for the third quarter of 2018, as compared to net income of $29.3 million, or $0.23 per diluted share, for the third quarter of 2017. According to the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":61575,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-63752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/63752"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=63752"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/63752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/61575"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=63752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=63752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=63752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}