Globalstar Inc. Q2 loss in line with estimates

(RTTNews) - Globalstar Inc. (GSAT) reported Loss for second quarter in line with the Street estimates.

The company's bottom line came in at -$26.76 million, or -$0.01 per share. This compares with -$21.45 million, or -$0.01 per share, in last year's second quarter.

Analysts on average had expected the company to earn -$0.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.5% to $36.80 million from $30.28 million last year.

Globalstar Inc. earnings at a glance (GAAP) :

-Earnings (Q2): -$26.76 Mln. vs. -$21.45 Mln. last year. -EPS (Q2): -$0.01 vs. -$0.01 last year. -Analyst Estimates: -$0.01 -Revenue (Q2): $36.80 Mln vs. $30.28 Mln last year.