IRDM FY 2014 Earnings Report — Iridium Communications Inc. Revenue & Financial Results | Market Cap Arena

Iridium Communications Inc.IRDM

FY 2014 Earnings

Reported February 26, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$409M	—	$383M	—	6.8%
Op. Income	$125M	—	$110M	—	13.8%
Gross Margin	54.2%	—	51.3%	—	2.9pp
Net Margin	18.4%	—	16.3%	—	2.0pp
EPS (Diluted)	$0.67	—	$0.72	—	-6.9%
Free Cash Flow	-$226M	—	-$220M	—	-2.6%

Revenue Flow

Item	Amount
REVENUE	$409M
Cost of Revenue	$187M
GROSS PROFIT	$221M
R&D Expenses	$18M
Selling & Marketing	$0
General & Administrative	$79M
SG&A Expenses	$79M
Other Expenses	$0
Operating Expenses	$96M
Cost & Expenses	$283M
OPERATING INCOME	$125M
Interest Income	$4M
Interest Expense	$6M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$116M
Income Tax Expense	$41M
Net Income from Continuing Ops	$75M
Net Income from Discontinued Ops	$0
Other Adjustments	-$43.0K
NET INCOME	$75M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$75M
D&A	$73M
EBIT	$122M
EBITDA	$193M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$409M
Cost of Revenue	$187M
GROSS PROFIT	$221M
R&D Expenses	$18M
Selling & Marketing	$0
General & Administrative	$79M
SG&A Expenses	$79M
Other Expenses	$0
Operating Expenses	$96M
Cost & Expenses	$283M
OPERATING INCOME	$125M
Interest Income	$4M
Interest Expense	$6M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$116M
Income Tax Expense	$41M
Net Income from Continuing Ops	$75M
Net Income from Discontinued Ops	$0
Other Adjustments	-$43.0K
NET INCOME	$75M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$75M
D&A	$73M
EBIT	$122M
EBITDA	$193M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$75M
Depreciation & Amortization	$73M
Stock-Based Compensation	$10M
Deferred Income Tax	$40M
Other Non-Cash Items	$7M
Change in Working Capital	$11M
OPERATING CASH FLOW	$215M
Capital Expenditure	-$441M
Acquisitions (Net)	$441M
Purchases of Investments	-$276M
Sales/Maturities of Investments	$91M
Other Investing Activities	-$441M
NET CASH FROM INVESTING	-$626M
Net Debt Issuance	$252M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$199M
NET CASH FROM FINANCING	$439M
FREE CASH FLOW	-$226M
Net Change in Cash	$25M

Balance Sheet

Item	Amount
Cash & Equivalents	$211M
Short-Term Investments	$261M
Net Receivables	$51M
Inventory	$28M
Other Current Assets	$22M
TOTAL CURRENT ASSETS	$573M
PP&E (Net)	$2.0B
Goodwill	$87M
Intangible Assets	$47M
Long-Term Investments	$86M
Tax Assets	$0
Other Non-Current Assets	$144M
TOTAL NON-CURRENT ASSETS	$2.3B
TOTAL ASSETS	$2.9B
Account Payables	$18M
Short-Term Debt	$0
Deferred Revenue	$37M
Other Current Liabilities	$48M
TOTAL CURRENT LIABILITIES	$102M
Long-Term Debt	$1.3B
Deferred Revenue NC	$21M
Deferred Tax Liabilities	$245M
Other Non-Current Liabilities	$18M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$1.7B
Common Stock	$94.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$202M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$2.9B
Total Debt	$1.3B
Net Debt	$1.1B