Globalstar Grows Sub Count

Globalstar said it grew the mobile and fixed subscriber base for its sat-phone service to 75,000 during the second quarter, an increase of 9 percent over the previous quarter and a 36 percent increase from a year ago, the company said. Globalstar said its second quarter net loss applicable to ordinary partnership interests declined to $21.2 million, a reduction of more than 74 percent from the previous quarter, based on continued reduction of core expenses. Second quarter operating losses were also $21.2 million, a decline of 33 percent from the previous quarter. In addition, the company said it recorded a total of 7.7 million minutes of use, including mobile and fixed service, in the second quarter, representing a 13 percent increase in traffic from the previous quarter and a 43 percent increase from the same period last year. Earlier this year, Globalstar filed for bankruptcy protection.

From SkyReport (Used with Permission)