GlobalStar (GSAT) Tops Q4 EPS by 11c, Sales Miss

GlobalStar (: GSAT) reported Q4 EPS of $0.08, $0.11 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $22.1 million versus the consensus estimate of $24.2 million.

Jay Monroe, Chairman and CEO of Globalstar, commented, "2014 represents an important year for Globalstar as it was the first full year of service restoration after the launch of our second-generation constellation. We have been able to not only gain market share in our core markets, but also invest and expand in additional territories including South and Central America and now Africa. Revenue for the year grew 9% while Adjusted EBITDA increased 47%. Our core business is on the right growth path as we expand our international footprint, introduce new consumer and enterprise-focused products and materially upgrade our service offerings with the near-term completion of our next generation ground infrastructure. We also are focused on concluding the Federal Communications Commission's approval process for our spectrum in the 2.4 GHz band. We look forward to the successful completion of the proceeding, which will provide the nation with an additional 22 MHz of terrestrial spectrum for mobile broadband."

For earnings history and earnings-related data on GlobalStar (GSAT) click here.

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