GlobalStar (GSAT) Tops Q2 EPS by 3c
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Globalstar Announces Second Quarter 2016 Results
August 4, 2016 4:16 PM EDTCOVINGTON, La., Aug. 04, 2016 (GLOBE NEWSWIRE) -- Globalstar, Inc. (NYSE MKT: GSAT) today announced its financial results for the quarter ended June 30, 2016.
Jay Monroe, Chairman and CEO of Globalstar, commented, Our quarterly financial results were strong as we saw growth in our subscriber base and an increase in ARPU across all revenue types. High margin service revenue, which increased 13%, contributed significantly to the improvement in our key operating metrics. Net income decreased from the second quarter of 2015 due to lower non-cash derivative valuation gains, while Adjusted EBITDA improved... More
