Dallas, Texas 08/14/2014 (FINANCIALSTRENDS) – Globalstar, Inc. (NYSEMKT:GSAT) on 11 August, announced its second quarter results. And investors have apparently liked the financial report because shares of this wireless communication service provider were higher by 1.89%. Much of the upswing in the share prices came from the positive revenue growth the company reported with the DUPLEX service.
Duplex Drives Revenue
Globalstar, Inc. (NYSEMKT:GSAT) in its financial report noted that the voice and data services of its DUPLEX drove the $5.9 million growth in the high-ARPU segment. It’s other segments reported positive growth though lacking the same momentum of growth as Duplex.
Simplex service revenue was to the tune of $2.2 million, which was 37% higher, while SPOT service revenue was at $7 million which was 3% higher.
However, within the Duplex service range there were negative aspects as well. Subscription fell by 11.1K, when compared quarter to quarter, reaching 63,000, while only the ARPU-aspect rose by $10.98 to $38.41.
The highlight of the quarter on operational front has been the Regulatory Reform for Terrestrial Spectrum Authority, which now allows Globalstar to support low-power land-based mobile broadband services. The spectrum, which it will support is 22 MHz and includes the S-band spectrum.
On NYSE MKT Since April 2014
Globalstar, Inc. (NYSEMKT:GSAT) initiated its trading on the US markets in the month of April 2014, within the Euronext community of NYSE and has been leveraging the innovative model of the country’s leading browser.
CEO and Chairman Jay Monroe noted that financial results were the ‘best in many years’ with increase in ‘critical metrics’ which ensured growth in business. He highlighted that the different product lines GSAT currently operates have helped it to entry and expansion on a global footing.A