Globalstar Reports Q3 Profit - Quick Facts

(RTTNews) - Globalstar, Inc. (GSAT) reported third-quarter net income of $129.39 million or $0.11 per share, compared to a loss of $204.97 million or $0.30 per share, prior year. Net income during the third quarter of 2014 reflected the impact of non-cash gains resulting from a decrease in the value of the company's derivative instruments, as well as an improved operating margin compared to the third quarter of 2013.

Adjusted EBITDA was $4.8 million, an increase of 92% over the comparable prior year period. Revenue increased to $23.44 million from $22.55 million last year.