Globalstar: Q4 Earnings Snapshot

Associated Press
Updated ·1 min read

COVINGTON, La. (AP) _ Globalstar Inc. (GSAT) on Wednesday reported a loss of $21.7 million in its fourth quarter.

The Covington, Louisiana-based company said it had a loss of 1 cent per share.

The satellite communications company posted revenue of $33.2 million in the period.

For the year, the company reported a loss of $109.6 million, or 7 cents per share, swinging to a loss in the period. Revenue was reported as $128.5 million.

In the final minutes of trading on Wednesday, the company's shares hit $1.55. A year ago, they were trading at 44 cents.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GSAT at https://www.zacks.com/ap/GSAT