Globalstar Inc. Q3 Loss increases, misses estimates

(RTTNews) - Globalstar Inc. (GSAT) released Loss for its third quarter that increased from last year and missed the Street estimates.

The company's earnings totaled -$204.36 million, or -$0.11 per share. This compares with -$30.89 million, or -$0.02 per share, in last year's third 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 15.4% to $37.63 million from $32.61 million last year.

Globalstar Inc. earnings at a glance (GAAP) :

-Earnings (Q3): -$204.36 Mln. vs. -$30.89 Mln. last year. -EPS (Q3): -$0.11 vs. -$0.02 last year. -Analyst Estimate: -$0.01 -Revenue (Q3): $37.63 Mln vs. $32.61 Mln last year.