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MarketScreener Homepage  >  Equities  >  Nyse MKT  >  Globalstar, Inc.    GSAT

GLOBALSTAR, INC. (GSAT)
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Globalstar : SPOT Satellite GPS Messaging Devices Surpass Billion Messages Transmitted, 6,100 Rescues Worldwide

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11/20/2018 | 03:30pm CET

SPOT is trusted, proven safety gear for those who work and play beyond cellular

SPOT, LLC, a wholly owned subsidiary of Globalstar, Inc. (NYSE American: GSAT) and a leading provider of satellite messaging and emergency notification technologies, today announced that SPOT has reached a new milestone, surpassing one billion messages transmitted and more than 6,100 rescue incidents initiated worldwide. An award-winning, trusted and proven satellite communications device, SPOT has a growing base of subscribers located around the world. From lone workers, to outdoor recreation enthusiasts who want peace of mind, SPOT provides reliable communications and emergency notification services regardless of cellular coverage. The new SPOT X, a two-way satellite messenger, was introduced in May 2018, featuring an onboard backlit keyboard, GPS location tracking and direct communication to the International Emergency Response Coordination Center (IERCC).

“For more than a decade we have dedicated ourselves to bringing affordable communication technology to our customers to provide peace of mind to their families and loved ones regardless of cellular coverage,” said David Kagan, CEO at Globalstar. “This billionth message milestone shows the breadth of our network and the increased demand of people worldwide expecting to be able to communicate from wherever they are. We are incredibly proud of the work we have done to keep people connected around the world and take great responsibility in being a reliable source of communication when an emergency strikes.”

SPOT products work virtually everywhere in the world, offering communication through satellite connectivity to hundreds of thousands of people including hunters, hikers, fishermen, snowmobilers, motorcyclists and many others who travel off the grid and enjoy the outdoors. SPOT users can track assets using SPOT Trace for anti-theft, use Gen3 for tracking, location-based messaging and signal an S.O.S. to get help when beyond cellular coverage.

With the new SPOT X two-way satellite messenger, users can keep in touch with co-workers, family and friends, or if necessary, emergency personnel. Lone workers can check-in and provide detailed status of their situation when working at remote jobsites. SPOT X provides users with a unique, personal mobile number that allows either party to initiate conversations at any time. With the ability to communicate the nature of emergencies with emergency services, the SPOT X has led to more efficient rescues.

SPOT rescues have taken place all over the world, in 89 countries and on six continents.

Joe Wade spent 10 months planning a 160-mile solo kayaking expedition off the coast of Delaware, only to find himself reaching for his SPOT device nine days into his trip when his kayak flipped, forcing him into the frigid coastal waters. “If I am going on my own, I better have that SPOT Gen3 on me--that’s my bodyguard. That’s my teammate,” said Wade. “It’s a device you never want to use but I was sure glad I had it on me that day because without that I wouldn’t be here.”

Additional recent S.O.S. activations include a man using a SPOT X to communicate a plane crash and get a man suffering from multiple broken bones airlifted to a hospital; a man and woman who wrecked their motorcycle while on a remote dirt road; and a good Samaritan who activated their device for a member of their hiking group who was suffering from respiratory issues and needed immediate medical attention.

SPOT X is available online and at outdoor retailers at $249.99 USD with both month-to-month and annual service plans starting at $11.99 USD per month. More pricing and coverage details are available at FindMeSPOT.com/SPOTX.

About SPOT LLC

SPOT LLC, a subsidiary of Globalstar, Inc., provides affordable satellite communication and tracking devices for recreational and business use. SPOT messaging devices use both the GPS satellite network and the Globalstar network to transmit and receive text messages and GPS coordinates. Since 2007, SPOT has provided peace of mind by allowing customers to remain in contact with family, friends and co-workers, completely independent of cellular coverage and has helped initiate more than 6,000 rescues worldwide. For more information, visit FindMeSPOT.com.

Note that all SPOT products described in this press release are the products of SPOT LLC, which is not affiliated in any manner with Spot Image of Toulouse, France or Spot Image Corporation of Chantilly, Virginia. SPOT Connect is a trademark of Spot LLC. All other trademarks are the property of their respective owners.


© Business Wire 2018
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Financials ($)
Sales 2018 125 M
EBIT 2018 -71,5 M
Net income 2018 -
Debt 2018 377 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 6,67x
EV / Sales 2019 5,83x
Capitalization 453 M
Chart GLOBALSTAR, INC.
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Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 2
Average target price 0,70 $
Spread / Average Target 96%
EPS Revisions
Managers
NameTitle
David B. Kagan President, Chief Executive & Operating Officer
Jay Monroe Executive Chairman
Rebecca S. Clary Chief Financial Officer & Vice President
Doong Wen Vice President-Engineering
Richard S. Roberts Secretary & Director
Sector and Competitors
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INMARSAT-14.75%2 463
IRIDIUM COMMUNICATIONS INC83.64%2 413
SPEEDCAST INTERNATIONAL LTD-33.02%622