GSAT - Globalstar dips after earnings feature revenue gain wider loss

Globalstar (NYSE:GSAT) is 5.1% lower in initial after-hours reaction to its fourth-quarter earnings, where a small but broad revenue gain topped consensus. Shares had closed Thursday 22.9% higher, though, after the disclosure of a subcontract from MDA to replenish its existing constellation with 17 new satellites. Total revenue rose 4% to $34.5 million (beating one analyst estimate for $28.7 million). In Service, SPOT revenue rose 6% thanks to higher average subscribers; Commercial IoT rose 9%, seeing more average subscribers and higher average revenue per subscriber. Duplex service revenue, and engineering and other service revenue, was mostly flat. In equipment sales, SPOT and Commercial IoT both contributed to a 4% gain. Loss from operations widened to $15.5 million from $15.1 million thanks to higher operating expenses ($1.8 million) offsetting revenue. Net loss also widened, to $24 million from $21.7 million in the prior-year period. EBITDA rose 26% to $12.4 million. In

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Globalstar dips after earnings feature revenue gain, wider loss