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RigNet: 4Q Earnings Snapshot

HOUSTON (AP) _ RigNet Inc. (RNET) on Thursday reported a loss of $49.7 million in its fourth quarter.

The Houston-based company said it had a loss of $2.62 per share. Losses, adjusted for non-recurring costs, were 5 cents per share.

The communications provider for the oil and gas industry posted revenue of $60.2 million in the period.

For the year, the company reported that its loss widened to $62.5 million, or $3.34 per share. Revenue was reported as $238.9 million.

RigNet shares have risen 19 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.06, a rise of 4 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 https://www.zacks.com/ap/RNET