September 25, 2017 9:42 AM ET

Energy Equipment and Services

Company Overview of RigNet, Inc.

Company Overview

RigNet, Inc. provides systems and solutions for customers with data networking and operational requirements the United States and internationally. The company operates through two segments, Managed Services; and Systems Integration and Automation. It offers remote communications services for offshore and onshore drilling rigs and production facilities, as well as support vessels and other remote sites; multiprotocol label switching global network services; proactive network monitoring and management through network operations centers; and systems integration services to design, assemble, install, and commission turn-key solutions for customer communications systems. The company also provides...

15115 Park Row Boulevard

Suite 300

Houston, TX 77084

United States

Founded in 2000

508 Employees

Phone:

281-674-0100

Fax:

281-674-0101

Key Executives for RigNet, Inc.

CEO, President & Director
Age: 53
Total Annual Compensation: $568.3K
Senior VP & CFO
Age: 53
Total Annual Compensation: $325.0K
Vice President of System Integration & Automation
Total Annual Compensation: $37.0K
Consultant
Age: 63
Total Annual Compensation: $262.0K
Senior Vice President of Sales & Marketing
Age: 57
Total Annual Compensation: $42.3K
Compensation as of Fiscal Year 2016.

RigNet, Inc. Key Developments

RigNet, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017

RigNet, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenue of $49,162,000 against revenue of $54,911,000 a year ago. Operating loss was $3,438,000 against $3,294,000 a year ago. Loss before income taxes was $4,311,000 against $3,622,000 a year ago. Net loss was $4,210,000 against $1,987,000 a year ago. Net loss attributable to the company's common stockholders was $4,249,000 against $4,751,000 a year ago. Net loss per share attributable to the company's common stockholders, basic and diluted was $0.24 against $0.27 a year ago. The decrease compared to the prior quarter was due primarily to elevated acquisition and labor cost, transition costs related to a third-party satellite outage during the quarter, and a $550,000 net adjustment in gross margin related to the company's SI&A Mexico operations. Adjusted EBITDA was $6,053,000 against $7,225,000 a year ago. The decreases were primarily due to decreased revenue, partially offset by a reduction in ongoing operating expenses. Capital expenditures were $4,911,000 against capital expenditures of $4,670,000 a year ago. For the six months, the company reported revenue of $97,234,000 against revenue of $117,252,000 a year ago. Operating loss was $4,505,000 against $2,705,000 a year ago. Loss before income taxes was $5,884,000 against $3,987,000 a year ago. Net loss was $6,197,000 against $6,123,000 a year ago. Net loss attributable to the company's common stockholders was $6,275,000 against $6,084,000 a year ago. Net loss per share attributable to the company's common stockholders, basic and diluted was $0.35 against $0.35 a year ago. Adjusted EBITDA was $13,278,000 against $19,290,000 a year ago. Capital expenditures were $8,071,000 against capital expenditures of $9,575,000 a year ago. Net cash provided by operating activities was $9,283,000 against $18,440,000 a year ago.

RigNet, Inc., Q2 2017 Earnings Call, Aug 08, 2017

RigNet, Inc., Q2 2017 Earnings Call, Aug 08, 2017

RigNet, Inc. to Report Q2, 2017 Results on Aug 07, 2017

RigNet, Inc. announced that they will report Q2, 2017 results at 5:00 PM, Eastern Standard Time on Aug 07, 2017

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