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Globalstar, Inc. Ready to Roll / Chief: Arbitration Decision Expected by Mid-March


Globalstar, Inc. (NASDAQ:GSAT) Ready to Roll

By James E. Brumley
Published: January 13, 2012 12:30:02 PM PST

Back in July - even well before the marketwide meltdown - Globalstar, Inc. (NASDAQ:GSAT) shares were in trouble. Indeed, all of 2011 was nothing but trouble for GSAT shares, continuing a slide started in the middle of 2010 after shares peaked at $2.11; they're now at $0.61.

Yet, GSAT is still decidedly on the rise. The push off of the low of $0.38 hit back in November set up the 60% advance since then. Though that's not the bets bullish move we've seen since trouble set in back in 2010 (that honor goes to the big but short-lived surge in October), this is the best-paced and most sustainable of any bullish moves we've seen for the past year and a half.

It begs the question... what changed for Globalstar that suddenly makes it so popular. The answer is, revenue has finally started to inch higher again. The company generated sales of only $16.5 million four quarters ago, but bumped that number up to $18.2 million three quarters ago. The second quarter of 2011 saw revenue of $37.2, though traders basically knew... http://www.smallcapnetwork.com/Globalstar-Inc-NASDAQ-GSAT-Ready-to-Roll/s/via/10/article/view/p/mid/2/id/71/


Globalstar Chief: Arbitration Decision Expected by Mid-March

Fri, 13 January, 2012

Thales Alenia Space
Image via Wikipedia
PARIS — Mobile satellite services provider Globalstar expects an arbitration panel to rule by mid-March on whether the company is within its rights in demanding six new satellites from its prime contractor at prices the contractor says are no longer valid, Globalstar Chief Executive Jay Monroe said.

In a Jan. 11 interview, Monroe said the three-judge panel, which is expected to hear arguments in the case Jan. 24, is likely to decide the issue one way or another within four to six weeks of the hearing.

Covington, La.-based Globalstar and the prime contractor for its second-generation satellite constellation, Thales Alenia Space of France and Italy, disagree on whether Thales is obligated to build six more satellites with prices agreed to several years ago. Thales says the contract terms expired; Globalstar disagrees.

Thales Alenia Space officials have declined to comment on the dispute in detail, but industry officials have said the company is loath to agree.... http://www.spacenews.com/satellite_telecom/120113-globalstar-arbitration-decision-march.html

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