Globalstar revenue growth held back by stronger dollar

Friday 8 May 2015 | 13:16 CET | News
Satellite services provider Globalstar reported first-quarter revenue up slightly to USD 21.0 million from USD 20.5 million a year earlier, with growth held back by the stronger US dollar. The latter offset a 12 percent increase in subscribers. Higher sales and marketing expenses led to a fall in adjusted EBITDA to USD 3.1 million from USD 3.8 million a year ago, while Globalstar's net loss narrowed to USD 129.7 million from a net loss of USD 250.5 million a year earlier due to lower derivative and debt costs. Globalstar had no news on the pending FCC decision on its planned terrestrial

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