Globalstar, Inc. (NASDAQ:GSAT) issued its earnings results on Thursday. The company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06, RTT News reports. The firm had revenue of $30.46 million for the quarter. Globalstar had a negative net margin of 351.08% and a negative return on equity of 320.82%.

Shares of Globalstar (GSAT) traded up $0.03 during trading hours on Friday, reaching $1.69. 5,309,879 shares of the company traded hands.

In related news, CEO James Monroe III acquired 27,607,656 shares of the company’s stock in a transaction dated Wednesday, October 11th. The stock was bought at an average price of $1.57 per share, with a total value of $43,344,019.92. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

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Globalstar Company Profile

Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.

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