RigNet, Inc. provides network infrastructure services for the remote communications needs of the oil and gas industry. The company operates through three segments: Americas, Europe/Africa, and Middle East/Asia Pacific. It offers remote communications services through a controlled and managed Internet protocol/multiprotocol label switching (IP/MPLS) global network, enabling drilling contractors, oil companies, and oilfield service companies to communicate. The company offers a communications package of voice, data, video, networking, and real-time data management to offshore and land-based remote locations. It primarily provides voice-over-Internet-protocol, data, and high-speed Internet acce...
1880 South Dairy Ashford
Houston, TX 77077
Founded in 2000
RigNet, Inc. Appoints Rajesh Salem as Vice President, Strategy & Marketing
Jan 13 15
RigNet, Inc. announced that Rajesh Salem has joined the company in the new position of vice president, Strategy & Marketing. In this role, Salem will oversee the company's existing strategy and marketing efforts and be responsible for new business development strategies and marketing plans that meet the evolving mission critical needs of the company's demanding energy customers around the world. Salem has had a long and successful career in strategy development and marketing at firms that include McKinsey, United Technologies, Panduit and Sears. Most recently, he served as head of Strategy & Marketing for Sears Commercial.
RigNet, Inc. Presents at Cowen and Company 4(th) Annual Ultimate Energy Conference, Dec-02-2014 04:45 PM
Nov 20 14
RigNet, Inc. Presents at Cowen and Company 4(th) Annual Ultimate Energy Conference, Dec-02-2014 04:45 PM. Venue: The New York Hilton Midtown, New York, New York, United States. Speakers: Mark B. Slaughter, Chief Executive Officer, President and Director.
RigNet, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Capital Expenditures Guidance for Early 2015
Nov 4 14
RigNet, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $87,819,000 against $56,856,000 a year ago. Operating income was $11,701,000 against $9,802,000 a year ago. Income before income taxes was $10,681,000 against $4,988,000 a year ago. Net income attributable to company common stockholders was $5,857,000 or $0.33 per diluted share against $2,347,000 or $0.13 per diluted share a year ago. Adjusted EBITDA was $20,180,000 against $14,450,000 a year ago. Adjusted EBITDA (non-GAAP measure) was $20,180,000 against $14,450,000 a year ago. Capital expenditure was $10.0 million in the third quarter compared to $9.1 million in the same quarter last year and $11.6 million in the previous quarter. Adjusted EBITDA increase resulted from organic growth in its core managed communications business and, to a lesser extent, contributions from its acquisition. Capital expenditures were $10.0 million compared to $9.1 million in the prior year quarter.
For the nine months, the company reported revenue of $243,518,000 against $161,003,000 a year ago. Operating income was $26,856,000 against $13,774,000 a year ago. Income before income taxes was $25,390,000 against $18,742,000 a year ago. Net income attributable to company common stockholders was $13,719,000 or $0.77 per diluted share against $10,943,000 or $0.63 per diluted share a year ago. Adjusted EBITDA was $55,194,000 against $40,973,000 a year ago. Adjusted EBITDA (non-GAAP measure) was $55,194,000 against $40,973,000 a year ago. Net cash provided by operating activities was $28,415,000 against $15,353,000 a year ago. Total capital expenditures were $31.2 million compared to $24.3 million for the nine months ended September 2013.
For early 2015, the company still projects total capital expenditures of $5 million to $6 million, representing a substantial investment in the company’s systems to standardize and strengthen the backbone of the company’s global operations.