[Satellite TODAY 05-12-10] Globalstar reported an $8.7 million operating loss in the 2010 first quarter, an improvement over the $17.6 million loss the company reported in the same period in 2009, according to the company’s latest financial results.
    However, Globalstar’s total revenue and net loss was $15.6 million and $35.6 million respectively, compared to $15.2 million and $21.8 million respectively, for the same period in 2009.
    Executive Chairman Jay Monroe said that cost containment initiatives helped to cut losses during the quarter, which were partially caused by $25 million in costs related to its $738 million Coface financing transactions.
“We are now about two months away from taking delivery of the first of our new second-generation satellites. Once our new satellites are in operational orbit, the most immediate impact will be on those commercial enterprise and recreational customers who utilize our satellite voice and duplex data services. With each of our first four launches, we can expect a progressive return to the high reliability and service quality they enjoyed prior to 2007,” Monroe said in a statement.