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RigNet, Inc. Common Stock, also called RigNet, is a technology company, which engages in the provision of customized communications services, applications, and cybersecurity solutions. Read More It operates through the following segments: Managed Services, Applications & Internet-of-Things, Systems Integration and Corporate. The Managed Services segment comprises remote communications, telephony, and technology services for offshore and onshore drilling rigs and production facilities, support vessels, and other remote sites. The Applications & Internet-of-Things segment focuses on the applications over-the-top of the Managed Services segment including Supervisory Control and Data Acquisition (SCADA) and Software as a Service (SaaS) offerings including BlackTIE and CyphreLink encryption, weather monitoring primarily in the North Sea (MetOcean), real-time data monitoring and machine-to-machine learning, and certain other value-added services such as Adaptive Video Intelligence (AVI). The Systems Integration segment gives design and implementation services for customer telecommunications systems. The Corporate segment consists of unallocated executive and support activities, interest expense, income taxes and eliminations. RigNet was founded by Omar Kulbrandstad in 2000 and is headquartered in Houston, TX.
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The Motley FoolMar 15
RigNet Records a Big Loss in Q4 After Losing a Dispute
In December, RigNet (NASDAQ:RNET) lost an arbitration hearing against a supplier, with the panel finding that the company owed $50.8 million on a contract it initially signed in January 2014. While RigNet is working to reduce this amount by filing counterclaims, it recorded a sizable loss during the fourth quarter just in case it needed to make this payment.
Markets InsiderMar 14
RigNet Announces Fourth Quarter and Full Year 2018 Earnings Results
Quarterly revenue of $60.2 million; net loss of $49.7 million or $2.62 per share Full year 2018 revenue of $238.9 million; net loss of $62.5 million or $3.34 per share Quarterly and full year results include a $50.6 million non-cash charge, net of previous accruals, for the Phase I interim GX ruling (the GX Charge), subject to reduction under our Phase II counterclaims Quarterly net income of $0.9 million or $0.05 per share and full year net loss, excluding the GX Charge, of $11.8 million or $0.63 per sh...
Simply Wall StMar 13
Investors Who Bought RigNet (NASDAQ:RNET) Shares Five Years Ago Are Now Down 73%
Some stocks are best avoided. We really hate to see fellow investors lose their hard-earned money. Spare a thought for those who held RigNet, Inc. (NASDAQ:RNET) for five whole years – as the share price tanked 73%. The silver lining is that the stock is up 2.9% in about a week. Check out our latest analysis for RigNet Given that RigNet didn’t make a profit in the last twelve months, we’ll focus on revenue growth to form a quick view of its business development. When a company doesn’t make profits, we’d ge...
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