Globalstar Q3 net loss narrows
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[November 09, 2009]

Globalstar Q3 net loss narrows

Nov 09, 2009 (Datamonitor via COMTEX) -- Globalstar, a provider of mobile satellite voice and data services, has reported a net loss of $5.52 million, or $0.04 per diluted share, for the third quarter ended September 30, 2009, compared to a net loss of $26.02 million, or $0.31 per diluted share, in the third quarter of 2008.



For the third quarter of 2009, total revenues were $17.52 million, compared to $22.52 million in the third quarter of 2008.

For the first nine months ended September 30, 2009, total revenues were $48.4 million, compared to $67.66 million in the same period of 2008. Net loss was $41.04 million, or $0.30 per diluted share, compared to a net loss of $39.83 million, or $0.48 per diluted share, in the same period of 2008.


Jay Monroe, executive chairman of Globalstar, said: "With the financing completed, we can now focus our energies on the major operational milestones pertaining to the manufacture and launch of our second-generation satellite constellation.

"The deployment of our new satellite constellation, expected to begin in 2010, will pave the way for the immediate return of the high quality and reliability historically provided to Globalstar's voice and duplex data subscribers. It will also position us to be first to market with a second-generation satellite network and a host of advanced IP Multimedia Subsystem or IMS based mobile satellite." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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