GLOBALSTAR, INC.

(GSAT)
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Globalstar : Satellites Powering Communications for Recon Powerline Wildfire Prediction and Warning Platform

05/06/2019 | 04:43pm EDT

Enables advanced warning and prediction of ignition factors on utility infrastructure without interfering in emergency-response cellular communications

Sacramento, 5/6/2019 11:00:00 AM
- Globalstar, Inc. (NYSE American: GSAT) announced today that the company has entered a long-term strategic relationship with Seattle-based Recon Powerline allowing the company to use Globalstar's satellite and multi-radio modems to help address the growing issue of wildfire risk management. 'The agreement between Recon Powerline and Globalstar will help stop catastrophic wildland fires before they start by providing firefighters with advanced warning and the ability to predict fire ignition factors on utility infrastructure,' said Katy Richey, Chief Commercial Officer at Recon Powerline. 'Globalstar's network allows us to provide first responders and utilities with reliable and affordable monitoring in both remote regions with little to no cellular connectivity and the Wildland-Urban Interface. Importantly, Globalstar's satellite network will enable monitoring and rapid response without interfering in emergency-response cellular communications.' With the integration of Globalstar connectivity into their Powerline Monitoring System, Recon will create the most reliable platform in the industry enabling communications in remote regions with little to no cellular coverage and the Wildland-Urban Interface. 'Joining forces with Recon Powerline is a natural progression for both companies,' said David Kagan, Chief Executive Officer of Globalstar. 'For more than ten years, Globalstar has been developing IoT/M2M products to meet the needs of our customers with critical data monitoring and remote asset management needs. Together with our valued partner Recon, Globalstar will now leverage those products to help prevent and mitigate the damage caused by wildfires.'

Globalstar offers a suite of life-saving and IoT products for those that need reliable connectivity everywhere. Helping to provide faster response time for wildfires aligns both with Globalstar's MSS ability and corporate mission.

This exclusive partnership is an integral component of Recon Powerline's response to California Governor Gavin Newsom's Request for Innovative Ideas (RFI2) announced by Executive Order. The Executive Order gives the State of California a new path to address issues like the wildland fire crisis through innovative technology solutions for monitoring and prevention.

About Globalstar, Inc.
Globalstar is a leading provider of customizable satellite IoT solutions for customers around the world in industries such as government, oil and gas, emergency management, transportation, maritime and outdoor recreation. As a pioneer of mobile satellite voice and data services, Globalstar allows businesses to streamline operations via the Globalstar Satellite Network by connecting people to their devices, supplying personal safety and communication and automating data to more easily monitor and manage mobile assets. The Company's product portfolio includes the industry-acclaimed SmartOne asset tracking products, Commercial IoT satellite transmitters and Duplex satellite data modems, the innovative Sat-Fi2 satellite wireless IP hotspot and the SPOT® product line of personal safety, asset and communication devices, all offered with a variety of data service plans. Learn more at Globalstar.com

About Recon Powerline
Recon Powerline is a fully owned subsidiary of Recon Dynamics. Recon Dynamics was founded in 2009, and funded by wireless industry pioneer Craig McCaw's Eagle River Partners. Recon's operational Intelligence platform leverages advanced IoT solutions to provide insights into the operations of a large number of industries. Recon has developed a broad portfolio of patented technology focused on the transmission of data over long distances with extremely low power consumption.

Disclaimer

Globalstar Inc. published this content on 06 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 May 2019 20:42:02 UTC


© Publicnow 2019
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Financials (USD)
Sales 2022 127 M - -
Net income 2022 -96,9 M - -
Net Debt 2022 274 M - -
P/E ratio 2022 -24,6x
Yield 2022 -
Capitalization 2 213 M 2 213 M -
EV / Sales 2022 19,6x
EV / Sales 2023 19,8x
Nbr of Employees 329
Free-Float 37,9%
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Mean consensus HOLD
Number of Analysts 2
Last Close Price 1,23 $
Average target price 2,14 $
Spread / Average Target 74,0%
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David B. Kagan Chief Executive Officer
Rebecca S. Clary Controller
James Monroe Chairman
Wen Doong Senior Vice President-Engineering & Operations
Tim Calamari VP-Network, Information Technology & Applications
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