Iridium Reports Loss

(MCLEAN) – Disappointing numbers from a Virginia satellite phone maker.

Iridium Communications reports a second-quarter loss of $4.4 million, this, after reporting a profit in the same period a year earlier. The company out of McLean revealed it had a loss of 6 cents a share.

Earnings, adjusted for pretax expenses, were at 2 cents. Insiders say a shifting marketplace and supply issues were what led to the slide.