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Recap: RigNet Q1 Earnings

Shares of RigNet (NASDAQ:RNET) rose 7% in pre-market trading after the company reported Q1 results. Quarterly Results Earnings per share increased 71.43% over the past year to ($0.18), which beat the estimate of ($0.48).

Benzinga · 05/08/2020 12:21

Shares of RigNet (NASDAQ:RNET) rose 7% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share increased 71.43% over the past year to ($0.18), which beat the estimate of ($0.48).

Revenue of $58,761,000 higher by 2.18% year over year, which beat the estimate of $56,050,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

RigNet hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: May 11, 2020

Time: 02:00 AM ET

Webcast URL: https://edge.media-server.com/mmc/p/9efwg6d7

Price Action

52-week high: $11.34

52-week low: $0.77

Price action over last quarter: down 69.67%

Company Profile

RigNet Inc operates as a technology company that provides customized communications services, applications, real-time machine learning, and cybersecurity solutions. It operates through the following segments: The Managed Communications Services segment provides remote communications, telephony, and technology services for offshore and onshore drilling rigs and production facilities, support vessels, and other remote sites; The Applications and Internet-of-Things segment focuses on the applications over-the-top of the Managed Services segment including Supervisory Control and Data Acquisition (SCADA) and Software as a Service (SaaS); The Systems Integration segment gives design and implementation services for customer telecommunications systems.