RigNet Q4 Results Top Estimates

(RTTNews) - RigNet, Inc. (RNET) reported net income for the fourth quarter of $5.4 million or $0.30 per share, compared to $3.4 million or $0.20 per share for the year-ago quarter.

Excluding acquisition costs, adjusted net income for the latest quarter was $6.7 million or $0.38 per share.

Revenue for the fourth quarter rose 21.2% to $59.71 million from $49.28 million a year ago, mainly due to increased sites served and increased revenue-per-site.

Analysts polled by Thomson Reuters expected the company to earn $0.26 per share on revenue of $57.84 million for the fourth quarter. Analysts' estimates typically exclude special items.