Globalstar Inc. Q1 loss drops in line with estimates

(RTTNews) - Globalstar Inc. (GSAT) revealed Loss for first quarter that decreased from last year in line with the Street estimates.

The company's earnings came in at -$20.46 million, or -$0.01 per share. This compares with -$36.33 million, or -$0.02 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$0.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.7% to $32.77 million from $26.93 million last year.

Globalstar Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$20.46 Mln. vs. -$36.33 Mln. last year. -EPS (Q1): -$0.01 vs. -$0.02 last year. -Analyst Estimates: -$0.01 -Revenue (Q1): $32.77 Mln vs. $26.93 Mln last year.