MCLEAN, Va. — Iridium Communications on Tuesday reported first-quarter net income of $2.8 million, after reporting a loss in the same period a year earlier.
The McLean, Virginia-based company said it had net income of 2 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The satellite phone company posted revenue of $168.2 million in the period, which also beat Wall Street forecasts. Four analysts surveyed by Zacks expected $156.3 million.
The command and control ACVs originally lacked sufficient long-range secure communications, which has since been added as the vehicles enter fielding.
The delivery brings the lab closer to conducting the first U.S. positioning, navigation and timing experiment in almost 50 years.
An Air Force official said the military must "automate more" in order to remain dominant in a world of advanced computing and quick decisions.
Allied nations often don’t know what they need to solve their problem or what the U.S. has to offer.
Sen. Elizabeth Warren is asking federal regulators to oppose one defense merger and unwind another.