Globalstar (GSAT) reported quarterly earnings results on Thursday, May-5-2016. The company reported $-0.03 EPS for the quarter. Analysts had a consensus estimate of $-0.03. The company posted revenue of $21.80 million in the period, compared to analysts expectations of $23.07 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.13 EPS.
Globalstar opened for trading at $2.03 and hit $2.11 on the upside on Wednesday, eventually ending the session at $2, with a gain of 0.50% or 0.01 points. The heightened volatility saw the trading volume jump to 22,47,868 shares. Company has a market cap of $2,077 M.
In a different news, on Jan 26, 2016, L Barbee Iv Ponder (General Counsel) sold 1,300 shares at $1.67 per share price. According to the SEC, on Dec 10, 2015, James Iii Monroe (CEO) purchased 2,000,000 shares at $1.85 per share price. On Dec 4, 2015, Rebecca Clary (VP & Chief Financial Officer) sold 330 shares at $2.05 per share price, according to the Form-4 filing with the securities and exchange commission.
Globalstar Inc. provides mobile satellite services including voice and data communications services globally via 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. It provides various communications services via satellite which include two-way voice communication and data transmissions (Duplex) using mobile or fixed devices and one-way data transmissions (Simplex) using a mobile or fixed device that transmits its location and other information to a central monitoring station which includes certain SPOT and Simplex products. It offers voice and data communication services over its network of in-orbit satellites and its active ground stations (gateways). It also offers hardware and software designs to develop specific applications operating over its network.