- Globalstar (NASDAQ:GSAT) is off 2.5% today following a Q3 earnings report where it posted an unexpected profit thanks to a noncash derivative gain tied to decline in the company's stock price.
- "This quarter, growth in our subscriber base and significant improvement in ARPU contributed to a 19% increase in total revenue," says CEO Jay Monroe. "Importantly, Adjusted EBITDA increased 68% from the prior year quarter reflecting the operating leverage inherent in this business."
- Revenue breakout: Service revenues, $26.1M (up 18.9%); Subscriber equipment sales, $4.4M (up 22.2%).
- Revenue by segment: Duplex, $11.4M (up 8.9%); SPOT, $12.7M (up 14.1%); Simplex, $5.1M (up 63%); IGO, $314,000 (down 24%); other, $1M.
- ARPU: Duplex, $48.64 (up from $40.02); SPOT, $12.96 (up from $11.65); Simplex, $3.08 (up from $2.56); IGO, $2.35 (up from $2.02).
- Conference call to come at 5 p.m. ET.
- Press Release
- Now read: Using Market-Maker Forecasts To Pick Best Information Networks Stocks
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