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Globalstar loss swells to USD 205 mln in Q3

Thursday 14 November 2013 | 14:41 CET | News
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Satellite services provider Globalstar saw its net loss swell to USD 205.0 million in the third quarter, from USD 41.2 million a year earlier. The bigger loss was due to a number of non-cash items, such as losses on derivatives following a rise in its share price in the past quarter and a loss on debt refinancing transactions. Adjusted EBITDA fell to USD 2.5 million from USD 3.1 million in the third quarter of 2012 amid an increase in sales and marketing spend for new products and increased distribution. Revenues rose 10 percent year-on-year to USD 22.5 million, due to increases in both

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Categories: Broadcast & Satellite
Companies: Globalstar
Countries: North America
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