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.
Raytheon has netted a contract to build Stinger anti-aircraft missiles to replace those the U.S. military sent to Ukraine.
If accepted, the deal would see off reported interest in Oto Melara from KNDS – the alliance of Germany’s Krauss-Maffei Wegmann and France’s Nexter which sounded out Oto Melara’s owner, Italian state controlled Leonardo, about a sale last year.
Edge of Tomorrow is meant to ultimately deliver thousands of systems, as well as technology later developed based on those systems, for operational use.
There are at least four essential reasons why making the U.S. aerospace and defense industry exclusively “Made in America” is neither feasible nor desirable.
The New Medium Helicopter competition will likely be colored by the question of which company can generate jobs and skills for the country.
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