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Shares of RigNet (NASDAQ:RNET) rose 7% in pre-market trading after the company reported Q1 results.
Quarterly Results
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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.
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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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.