This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Globalstar Announces 2012 Fourth Quarter And Annual Results

  • Year-over-year Adjusted EBITDA improved by $16.2 million
  • Total revenue increased 10% in fourth quarter and 5% in 2012 from prior year periods
  • Concluded fourth launch campaign with successful launch of additional second-generation satellites on February 6, 2013
  • Completed comment cycle for Petition for Rulemaking with the Federal Communications Commission ("FCC") in January 2013

COVINGTON, La., March 14, 2013 (GLOBE NEWSWIRE) -- Globalstar, Inc. (OTCBB:GSAT) today announced its financial results for the three-month and twelve-month periods ended December 31, 2012.


Jay Monroe, Chairman and CEO of Globalstar, commented, "We recorded our fifth consecutive quarter of positive Adjusted EBITDA, driving profitability improvement in a seasonally slow quarter. By leveraging operational improvements, which have been our focus during the launch of our second-generation constellation, we are turning the corner financially. We are now well positioned to drive further profitability as we complete the deployment of the world's first Low Earth Orbit second-generation constellation and complete the restoration of our industry leading Duplex service. Globalstar is now ready to reclaim its position as the world's leading provider of global Mobile Satellite Services ("MSS") to consumer, public safety, government and enterprise customers. We are extremely proud of all we have accomplished this past year."


Revenue was $19.1 million for the fourth quarter of 2012 compared to $17.4 million for the fourth quarter of 2011, an increase of approximately $1.7 million, or 10%. This increase was due primarily to higher service revenue resulting from growth in the Company's average SPOT subscriber base of 21%.

Service revenue was $15.3 million for the fourth quarter of 2012 compared to $13.6 million for the fourth quarter of 2011. The primary driver for this increase was from the SPOT business, which grew service revenue by $1.1 million, or 20%. Duplex service revenue and Simplex service revenue also increased 14% and 18%, respectively. The improvement in Duplex service revenue was driven by an increase in ARPU to $18.49, an improvement of 23% over the fourth quarter of 2011. Driving this increase was the significant improvement in Globalstar's network performance, which supported higher subscriber rate plans and increased usage throughout 2012.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.74 -0.54%
FB $119.28 1.20%
GOOG $709.97 1.20%
TSLA $214.85 1.60%
YHOO $37.26 0.87%


Chart of I:DJI
DOW 17,734.44 +73.73 0.42%
S&P 500 2,056.90 +6.27 0.31%
NASDAQ 4,731.89 +14.7960 0.31%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs