Globalstar, Inc. (GSAT) Announces Earnings Results

Globalstar, Inc. (NASDAQ:GSAT) announced its quarterly earnings results on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06, RTT News reports. The company had revenue of $30.46 million during the quarter. Globalstar had a negative return on equity of 320.82% and a negative net margin of 351.08%.

Globalstar (NASDAQ GSAT) traded up $0.03 during trading on Friday, hitting $1.69. The stock had a trading volume of 5,309,879 shares.

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In other news, CEO James Monroe III bought 27,607,656 shares of Globalstar stock in a transaction dated Wednesday, October 11th. The stock was acquired at an average cost of $1.57 per share, with a total value of $43,344,019.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Globalstar Company Profile

Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.

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