$IRDM
Iridium Communications Inc.

2016 Q4 Form 10-Q Financial Statement

#000156459016026294 Filed on October 27, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q4
Revenue $107.4M $112.8M $106.4M
YoY Change 0.97% 6.38% 5.88%
Cost Of Revenue $27.20M $11.48M $26.40M
YoY Change 3.03% -0.72% -1.86%
Gross Profit $80.30M $101.3M $80.00M
YoY Change 0.38% 7.24% 8.7%
Gross Profit Margin 74.73% 89.83% 75.18%
Selling, General & Admin $22.40M $18.77M $24.60M
YoY Change -8.94% 7.03% 8.37%
% of Gross Profit 27.9% 18.52% 30.75%
Research & Development $4.500M $5.038M $4.100M
YoY Change 9.76% 44.77% -30.51%
% of Gross Profit 5.6% 4.97% 5.12%
Depreciation & Amortization $11.80M $11.81M $12.70M
YoY Change -7.09% -8.68% -82.55%
% of Gross Profit 14.69% 11.66% 15.88%
Operating Expenses $38.70M $23.81M $41.60M
YoY Change -6.97% -59.99% -0.48%
Operating Profit $41.60M $49.77M -$48.54M
YoY Change -185.69% 6.94% -252.45%
Interest Expense $700.0K $19.80M $800.0K
YoY Change -12.5% 18.56% -20.0%
% of Operating Profit 1.68% 39.78%
Other Income/Expense, Net -$300.0K $434.0K -$1.000M
YoY Change -70.0% -169.66% -16.67%
Pretax Income $41.90M $50.20M -$48.80M
YoY Change -185.86% 9.33% -253.94%
Income Tax $17.80M $18.65M $20.60M
% Of Pretax Income 42.48% 37.14%
Net Earnings $24.10M $31.56M -$69.43M
YoY Change -134.72% 6.8% -401.36%
Net Earnings / Revenue 22.43% 27.98% -65.24%
Basic Earnings Per Share $0.21 $0.29 -$0.77
Diluted Earnings Per Share $0.19 $0.26 -$0.77
COMMON SHARES
Basic Shares Outstanding 95.77M 96.07M shares 94.95M
Diluted Shares Outstanding 123.7M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $410.5M $426.4M $389.0M
YoY Change 5.53% -16.82% -17.65%
Cash & Equivalents $371.2M $374.0M $185.7M
Short-Term Investments $41.80M $57.60M $203.3M
Other Short-Term Assets $30.70M $21.80M $13.10M
YoY Change 134.35% -18.66% -39.35%
Inventory $18.20M $21.40M $27.93M
Prepaid Expenses
Receivables $57.37M $61.60M $51.67M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $516.8M $531.2M $481.7M
YoY Change 7.28% -14.54% -15.95%
LONG-TERM ASSETS
Property, Plant & Equipment $2.813B $2.696B $2.444B
YoY Change 15.12% 20.93% 23.92%
Goodwill $0.00 $0.00
YoY Change -100.0%
Intangibles $45.80M $46.59M
YoY Change -1.7% -1.74%
Long-Term Investments
YoY Change
Other Assets $10.84M $124.8M $8.188M
YoY Change 32.34% 1438.27% 5.98%
Total Long-Term Assets $2.983B $2.867B $2.589B
YoY Change 15.19% 10.58% 10.82%
TOTAL ASSETS
Total Short-Term Assets $516.8M $531.2M $481.7M
Total Long-Term Assets $2.983B $2.867B $2.589B
Total Assets $3.500B $3.398B $3.071B
YoY Change 13.95% 5.73% 5.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.13M $37.70M $31.53M
YoY Change -64.69% 10.07% 78.34%
Accrued Expenses $23.84M $39.30M $29.40M
YoY Change -18.92% 18.16% -23.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $83.19M $114.7M $101.6M
YoY Change -18.13% 2.34% -0.72%
LONG-TERM LIABILITIES
Long-Term Debt $1.657B $1.547B $1.389B
YoY Change 19.32% 7.12% 7.54%
Other Long-Term Liabilities $4.317M $73.20M $12.49M
YoY Change -65.44% 224.78% 280.39%
Total Long-Term Liabilities $4.317M $1.620B $12.49M
YoY Change -65.44% 7087.86% 280.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $83.19M $114.7M $101.6M
Total Long-Term Liabilities $4.317M $1.620B $12.49M
Total Liabilities $2.156B $2.079B $1.842B
YoY Change 17.01% 8.7% 9.81%
SHAREHOLDERS EQUITY
Retained Earnings $288.8M $193.2M
YoY Change 49.48% -4.13%
Common Stock $1.060B $1.045B
YoY Change 1.51% 1111158.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.344B $1.319B $1.229B
YoY Change
Total Liabilities & Shareholders Equity $3.500B $3.398B $3.071B
YoY Change 13.95% 5.73% 5.55%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income $24.10M $31.56M -$69.43M
YoY Change -134.72% 6.8% -401.36%
Depreciation, Depletion And Amortization $11.80M $11.81M $12.70M
YoY Change -7.09% -8.68% -82.55%
Cash From Operating Activities $60.60M $55.80M $54.60M
YoY Change 10.99% -20.51% -11.36%
INVESTING ACTIVITIES
Capital Expenditures -$173.9M -$75.00M -$243.0M
YoY Change -28.44% -3.35% -17.96%
Acquisitions
YoY Change
Other Investing Activities $12.90M $23.50M $16.90M
YoY Change -23.67% -58.04% -137.39%
Cash From Investing Activities -$161.0M -$51.40M -$226.1M
YoY Change -28.79% 137.96% -33.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 119.5M 2.700M 71.40M
YoY Change 67.37% -93.84% -61.7%
NET CHANGE
Cash From Operating Activities 60.60M 55.80M 54.60M
Cash From Investing Activities -161.0M -51.40M -226.1M
Cash From Financing Activities 119.5M 2.700M 71.40M
Net Change In Cash 19.10M 7.100M -100.1M
YoY Change -119.08% -92.32% 7.17%
FREE CASH FLOW
Cash From Operating Activities $60.60M $55.80M $54.60M
Capital Expenditures -$173.9M -$75.00M -$243.0M
Free Cash Flow $234.5M $130.8M $297.6M
YoY Change -21.2% -11.5% -16.83%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Registrant Name
EntityRegistrantName
Iridium Communications Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0001418819
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Trading Symbol
TradingSymbol
IRDM
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us-gaap Depreciation Depletion And Amortization
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us-gaap Costs And Expenses
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us-gaap Interest Income Expense Net
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us-gaap Line Of Credit Facility Commitment Fee Amount
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us-gaap Other Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Tax Expense Benefit
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us-gaap Net Income Loss
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Interest Paid
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us-gaap Product Warranty Accrual Payments
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irdm Interest Capitalized But Not Paid
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irdm Capitalized Amortization Of Deferred Financing Costs
CapitalizedAmortizationOfDeferredFinancingCosts
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irdm Capitalized Paid In Kind Interest
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us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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irdm Decrease In Depreciation Expense
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CY2016Q3 us-gaap Cash
Cash
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Cash
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CY2016Q3 us-gaap Marketable Securities Realized Gain Loss
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CY2015Q4 us-gaap Deferred Finance Costs Noncurrent Net
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CY2015Q4 irdm Long Term Line Of Credit Carrying Amount
LongTermLineOfCreditCarryingAmount
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us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
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CY2015Q4 us-gaap Product Warranty Accrual
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CY2016Q3 us-gaap Interest Expense
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irdm Interest Expense Incurred Cash
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CY2015Q4 irdm Interest Payable Long Term Deemed Loan
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irdm Interest Expense Incurred Deemed Loan
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CY2015Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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18000

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