Globalstar Inc. Announces Fall In Q1 Profit

(RTTNews) - Globalstar Inc. (GSAT) revealed a profit for first quarter that fell from last year.

The company's earnings totaled $25.77 million, or $0.02 per share. This compares with $87.93 million, or $0.06 per share, in last year's first quarter.

Analysts had expected the company to earn -$0.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.6% to $30.08 million from $28.75 million last year.

Globalstar Inc. earnings at a glance:

-Earnings (Q1): $25.77 Mln. vs. $87.93 Mln. last year. -EPS (Q1): $0.02 vs. $0.06 last year. -Analysts Estimate: -$0.02 -Revenue (Q1): $30.08 Mln vs. $28.75 Mln last year.