COVINGTON, La., Nov. 03, 2016 (GLOBE NEWSWIRE) -- Globalstar, Inc. (NYSE MKT:GSAT) today announced its financial results for the quarter ended September 30, 2016. Jay Monroe, Chairman and CEO of Globalstar, commented, "Total revenue increased 8% during the third quarter as we continue to grow our subscriber base and improve ARPU. Service revenue, up 12% from the third quarter of 2015, contributed meaningfully to the improvement in our operating margin. Net income decreased from the third quarter of 2015 due to lower non-cash derivative valuation gains, but Adjusted EBITDA improved significantly due to increased service revenue as our costs were down slightly. On the business development front, we were pleased to announce the execution of a strategic partnership with Carmanah Technologies Corporation, whereby Carmanah will design and manufacture a new solar powered M2M satellite product and use our satellite constellation for remote connectivity of Carmanah products. We are pursuing additional opportunities for this type of innovation and believe Globalstar is well positioned to provide reliable connectivity as IoT and satellite technology converge. Finally, we continue to work on our FCC proceeding every day to seek a favorable outcome. As we have previously stated, given the current status of our proceeding and in deference to the Commission's deliberative process, we will not provide additional comment on that subject at this time." THIRD QUARTER FINANCIAL REVIEWRevenue Total revenue for the third quarter of 2016 increased by $1.9 million, or 8%, from the third quarter of 2015. This increase was driven primarily by higher service revenue resulting from growth in our average subscriber base and increased ARPU. This increase in service revenue was offset partially by a decrease in revenue generated from equipment sales due primarily to fewer core Simplex units being sold during the three months ended September 30, 2016.