Globalstar Inc. Profit Retreats In Q3

(RTTNews) - Globalstar Inc. (GSAT) revealed earnings for third quarter that declined from the same period last year.

The company's profit came in at $9.02 million, or $0.01 per share. This compares with $52.41 million, or $0.04 per share, in last year's third 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 17.2% to $35.69 million from $30.46 million last year.

Globalstar Inc. earnings at a glance:

-Earnings (Q3): $9.02 Mln. vs. $52.41 Mln. last year. -EPS (Q3): $0.01 vs. $0.04 last year. -Analysts Estimate: -$0.02 -Revenue (Q3): $35.69 Mln vs. $30.46 Mln last year.