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Globalstar Adds Subscribers, Cuts Operating Loss in Second Quarter
[Satellite Today 08-12-08] Globalstar completed the second quarter with more than 315,000 subscribers, an increase of about 23,000 since the end of March, the company announced Aug. 11.
Total revenue in the second quarter of 2008 was $23 million, a slight decrease from $25.8 million during the same period in 2007. Globalstar blamed the decrease on lower retail average revenue per user.
Service revenue for the 2008 second quarter was $16.7 million, down from $20 million during the same period of 2007. Globalstar recorded an operating loss of $12.1 million, compared to an operating loss of $15.9 million for the same period in 2007.
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