Globalstar Inc. Q1 loss drops in line with estimates

Globalstar Inc. (GSAT) revealed Loss for first quarter that decreased from last year in line with the Street estimates.

The company's earnings came in at -$20.46 million, or -$0.01 per share. This compares with -$36.33 million, or -$0.02 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$0.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.7% to $32.77 million from $26.93 million last year.

Globalstar Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$20.46 Mln. vs. -$36.33 Mln. last year.
-EPS (Q1): -$0.01 vs. -$0.02 last year.
-Analyst Estimates: -$0.01
-Revenue (Q1): $32.77 Mln vs. $26.93 Mln last year.

For comments and feedback contact: editorial@rttnews.com

Follow RTT