Gold Miners Dominate Tuesday’s Worst-Performing Stocks

2. Iridium Communications Inc. (NASDAQ:IRDM)

Iridium Communications dropped for a third straight day on Tuesday, shedding 6.85 percent to close at $21.61, shunning better earnings performance for the first quarter of the year.

In a statement on Tuesday, IRDM said that it achieved a 56-percent increase in net income for the January to March period, at $30.4 million from $19.65 million year-on-year.

Operational EBITDA was at $122.1 million, marking a 6-percent increase from $115 million in the prior-year period.

Meanwhile, revenues stood at $214.9 million, consisting of $154.3 million of service revenue and $60.6 million of revenue related to equipment sales and engineering and support projects.

IRDM said total revenues increased by 5 percent year-on-year.