Globalstar (GSAT) Releases Earnings Results, Beats Expectations By $0.03 EPS

Globalstar (GSAT) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.01 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-0.02. The company posted revenue of $25.09 million in the period, compared to analysts expectations of $24.26 million. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Many Wall Street Analysts have commented on Globalstar. Globalstar was Downgraded by Chardan Capital Markets to ” Neutral” on Jun 13, 2016.

Globalstar closed down -0.01 points or -0.85% at $1.16 with 16,68,852 shares getting traded on Tusday. Post opening the session at $1.18, the shares hit an intraday low of $1.14 and an intraday high of $1.19 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on May 18, 2016, David B. Kagan (COO) purchased 37,000 shares at $2.75 per share price. According to the SEC, on Jan 26, 2016, L Barbee Iv Ponder (General Counsel) sold 1,300 shares at $1.67 per share price. On Dec 10, 2015, James Iii Monroe (CEO) purchased 2,000,000 shares at $1.85 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.


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