GlobalStar (GSAT) Reports In-Line Q1 EPS

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Go back to GlobalStar (GSAT) Reports In-Line Q1 EPS

Globalstar Announces First Quarter 2016 Results

May 5, 2016 4:19 PM EDT

COVINGTON, La., May 05, 2016 (GLOBE NEWSWIRE) -- Globalstar, Inc. (NYSE MKT: GSAT) today announced its financial results for the quarter ended March 31, 2016.

Jay Monroe, Chairman and CEO of Globalstar, commented, Total revenue during the first quarter of 2016 grew 4% over the prior years first quarter as we continue to grow and diversify our subscriber base internationally, even in the face of continued currency exchange rate pressure. Service revenue, which improved 9% over the same period, drove a nearly 60% increase of Adjusted EBITDA as our service revenue generates higher margins than equipment sales. As it... More