Iridium (IRDM) Q3 Profit Rises to $106.9 Million as Revenue Climbs 8.3%

Iridium Communications Inc. (IRDM) reported a jump in third-quarter earnings, with net income reaching $106.90 million, or $0.98 per share, up from $37.13 million, or $0.35 per share, a year earlier. Revenue for the period rose 8.3% to $245.73 million from $226.94 million last year, the satellite communications company said. The results, reported on a GAAP basis, reflect higher earnings and sales compared with the prior-year quarter.