RigNet: 1Q Earnings Snapshot

RigNet: 1Q Earnings Snapshot

Associated Press

HOUSTON (AP) _ RigNet Inc. (RNET) on Monday reported a loss of $12 million in its first quarter.

The Houston-based company said it had a loss of 63 cents per share.

The communications provider for the oil and gas industry posted revenue of $57.5 million in the period.

RigNet shares have decreased 24% since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.65, a fall of 37% in the last 12 months.

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