GlobalStar (GSAT) Tops Q3 EPS by 2c
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Globalstar Announces Third Quarter 2016 Results
November 3, 2016 4:15 PM EDTCOVINGTON, La., Nov. 03, 2016 (GLOBE NEWSWIRE) -- Globalstar, Inc. (NYSE MKT: GSAT) today announced its financial results for the quarter ended September 30, 2016.
Jay Monroe, Chairman and CEO of Globalstar, commented, Total revenue increased 8% during the third quarter as we continue to grow our subscriber base and improve ARPU. Service revenue, up 12% from the third quarter of 2015, contributed meaningfully to the improvement in our operating margin. Net income decreased from the third quarter of 2015 due to lower non-cash derivative valuation gains, but Adjusted EBITDA improved significantly due to increased service revenue as our... More
