Iridium Earnings: 16% More Customers -- Still No Profits
From $27 to $20, and -- almost -- back again, the last couple of months have been a rocky ride for investors in satellite communications voice-and-data stock Iridium Communications (NASDAQ: IRDM).
In September Iridium won a massive seven-year, $738.5 million Pentagon contract to provide satcom services to the U.S. military -- which did exactly nothing to help its tumbling stock price. What did ultimately help was when analysts at Sidoti & Co. upgraded Iridium stock to buy a month later on hopes that free cash flow at the company will continue to improve as the company's "Aireon" space-based air traffic monitoring service grows, and as new Certus Broadband and Narrowband services roll out to the market.
So how is that working out?
Source Fool.com
