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Globalstar ticks up after Q3 revenue misses

Nov. 01, 2018 4:56 PM ETGlobalstar, Inc. (GSAT) StockBy: Jason Aycock, SA News Editor
  • Globalstar (NYSE:GSAT) is up 2% in light trading so far after a Q3 report where revenues missed slightly alongside its CEO transition to Dave Kagan.
  • Operating loss increased by $7.2M amid higher operating expenses, including $5.5M tied to the failed merger with Thermo Acquisitions.
  • Net income fell $43.4M, mainly due to a lower noncash derivative gain of $39.7M.
  • Adjusted EBITDA, though, rose 23% to $12.2M.
  • Revenue breakout: Service, $29.9M (up 14.7%); Subscriber equipment sales, $5.8M (up 32%).
  • In Services, all core revenue streams saw higher ARPU, including Duplex (up 27%) and SPOT (up 14%).
  • Conference call to come at 5 p.m. ET.
  • Previously: Globalstar misses on revenue (Nov. 01 2018)
  • Press release

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