Related Post
HOUSTON (AP) _ RigNet Inc. (RNET) on Tuesday reported second-quarter net income of $ 6 million.
The Houston-based company said it had profit of 34 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The communications provider for the oil and gas industry posted revenue of $ 75.1 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $ 77 million.
RigNet shares have decreased 41 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $ 24.04, a fall of 57 percent in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RNET at http://www.zacks.com/ap/RNET
_____
Keywords: RigNet, Earnings Report
