Globalstar, Inc. (NYSE American: GSAT) has announced its financial results for the quarter ended June 30, 2018., the company said
Total revenue for the second quarter of 2018 increased by USD 5.6 million, or 20%, from the second quarter of 2017. This increase resulted primarily from higher service revenue and subscriber equipment sales across all core revenue streams.
Service revenue increased USD 3.7 million, or 15%, in the second quarter of 2018 compared to the second quarter of 2017. The majority of this increase resulted from higher SPOT service revenue, which grew USD 2.7 million due to increases in ARPU and average subscribers. ARPU, which increased 19% following rate plan changes, was the main component of this growth, contributing USD 2.2 million to the service revenue increase.
A 4% increase in the average SPOT subscriber base, resulting from growth in both legacy and new product customers, also positively impacted service revenue when compared to the second quarter of 2017. Higher Duplex and Simplex service revenue of USD 0.8 million and USD 0.7 million, respectively, further contributed to the total service revenue increase.
Globalstar is a provider of mobile satellite voice and data services. Customers around the world in industries such as government, emergency management, marine, logging, oil & gas and outdoor recreation rely on Globalstar to conduct business smarter and faster, maintain peace of mind and access emergency personnel. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring, SCADA and IoT applications. The company´s products include mobile and fixed satellite telephones, the innovative Sat-Fi satellite hotspot, Simplex and Duplex satellite data modems, tracking devices and flexible service packages.