Financial Statements for Globalstar, Inc.

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Globalstar, Inc. financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	19.33	19.06	20.54	19.98	16.74
Other Revenue, Total	-	-	-	-	-
Total Revenue	19.33	19.06	20.54	19.98	16.74
Cost of Revenue, Total	10.47	9.77	10.26	9.55	8.33
Gross Profit	8.87	9.29	10.28	10.43	8.41
Selling/General/Admin. Expenses, Total	6.92	7.77	9.28	8.76	8.52
Research & Development	-	-	-	-	-
Depreciation/Amortization	20.33	20.52	18.65	15.89	14.73
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	0.00	0.00	0.00	29.19	0.08
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	37.72	38.07	38.19	63.38	31.67
Operating Income	-18.39	-19.00	-17.66	-43.40	-14.93
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	0.64	-1.34	-0.44	-0.63	0.13
Income Before Tax	-24.98	-18.90	-41.13	-27.39	-24.37
Income After Tax	-25.08	-18.95	-41.19	-27.53	-24.52
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	-25.08	-18.95	-41.19	-27.53	-24.52
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	-25.08	-18.95	-41.19	-27.53	-24.52
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	-25.08	-18.95	-41.19	-27.53	-24.52
Income Available to Common Incl. Extra Items	-25.08	-18.95	-41.19	-27.53	-24.52
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	472.19	424.18	392.34	379.43	357.42
Diluted EPS Excluding Extraordinary Items	-0.05	-0.04	-0.10	-0.07	-0.07
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	-0.05	-0.04	-0.10	-0.02	-0.07

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	76.32	72.83	67.94	64.28
Other Revenue, Total	-	-	-	-
Total Revenue	76.32	72.83	67.94	64.28
Cost of Revenue, Total	24.62	38.07	42.03	37.12
Gross Profit	51.69	34.76	25.91	27.16
Selling/General/Admin. Expenses, Total	34.34	42.44	41.83	49.21
Research & Development	-	-	-	-
Depreciation/Amortization	69.80	50.05	27.42	21.86
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	35.33	11.93	13.18	9.88
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	171.31	146.06	127.71	118.07
Operating Income	-94.99	-73.23	-59.77	-53.79
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-2.28	-0.33	-2.63	-1.03
Income Before Tax	-111.78	-55.03	-97.07	-74.94
Income After Tax	-112.20	-54.92	-97.47	-74.92
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	-112.20	-54.92	-97.47	-74.92
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	-112.20	-54.92	-97.47	-74.92
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	-112.20	-54.92	-97.47	-74.92
Income Available to Common Incl. Extra Items	-112.20	-54.92	-97.47	-74.92
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	388.45	299.14	285.32	128.13
Diluted EPS Excluding Extraordinary Items	-0.29	-0.18	-0.34	-0.58
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	-0.23	-0.15	-0.30	-0.53

In Millions of USD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	1.30	11.79	1.22	4.82	7.74
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	1.30	11.79	1.22	4.82	7.74
Accounts Receivable - Trade, Net	14.38	13.94	13.60	11.78	11.98
Receivables - Other	-	-	-	-	-
Total Receivables, Net	14.38	13.94	13.60	11.78	11.98
Total Inventory	39.82	42.18	43.05	41.15	41.24
Prepaid Expenses	5.33	5.23	5.79	12.97	5.13
Other Current Assets, Total	70.29	81.40	87.34	0.70	2.50
Total Current Assets	131.12	154.55	150.99	71.43	68.58
Property/Plant/Equipment, Total - Gross	1,443.80	1,418.27	1,409.71	1,396.53	1,392.04
Accumulated Depreciation, Total	-222.66	-203.11	-183.40	-165.14	-159.73
Goodwill, Net	-	-	-	-	-
Intangibles, Net	11.83	8.03	7.12	7.54	14.18
Long Term Investments	-	-	-	-	-
Other Long Term Assets, Total	26.51	26.04	19.69	106.72	109.58
Total Assets	1,390.60	1,403.78	1,404.11	1,417.08	1,424.64
Accounts Payable	32.83	35.91	42.99	32.15	31.59
Accrued Expenses	61.70	51.33	51.56	59.34	34.02
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	657.47	655.87	651.91	83.75	-
Other Current liabilities, Total	18.13	18.04	16.42	15.02	14.41
Total Current Liabilities	770.14	761.16	762.87	190.27	80.02
Long Term Debt	97.74	95.16	90.20	655.21	732.73
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	97.74	95.16	90.20	655.21	732.73
Total Debt	755.22	751.03	742.11	738.96	732.73
Deferred Income Tax	-	-	-	-	-
Minority Interest	-	-	-	-	-
Other Liabilities, Total	53.12	52.92	66.96	49.90	78.13
Total Liabilities	921.00	909.23	920.04	895.38	890.88
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	0.05	0.05	0.04	0.04	0.04
Additional Paid-In Capital	864.88	864.17	834.43	832.00	816.62
Retained Earnings (Accumulated Deficit)	-393.00	-367.92	-348.97	-307.78	-280.25
Treasury Stock - Common	-	-	-	-	-
Other Equity, Total	-2.33	-1.76	-1.43	-2.55	-2.64
Total Equity	469.60	494.54	484.07	521.70	533.77
Total Liabilities & Shareholders' Equity	1,390.60	1,403.78	1,404.11	1,417.08	1,424.64
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	490.04	489.09	412.74	408.38	391.04

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	11.79	9.95	33.02	67.88
Short Term Investments	-	-	-	-
Cash and Short Term Investments	11.79	9.95	33.02	67.88
Accounts Receivable - Trade, Net	13.94	12.39	13.67	9.39
Receivables - Other	-	-	-	-
Total Receivables, Net	13.94	12.39	13.67	9.39
Total Inventory	42.18	41.85	55.63	61.72
Prepaid Expenses	5.23	5.28	5.06	5.40
Other Current Assets, Total	81.40	0.00	2.06	9.33
Total Current Assets	154.55	69.47	109.45	153.73
Property/Plant/Equipment, Total - Gross	1,418.27	1,362.55	1,250.04	1,043.74
Accumulated Depreciation, Total	-203.11	-144.84	-99.57	-78.82
Goodwill, Net	-	-	-	2.70
Intangibles, Net	8.03	23.80	23.31	35.17
Long Term Investments	-	-	-	-
Other Long Term Assets, Total	26.04	109.42	103.58	110.12
Total Assets	1,403.78	1,420.40	1,386.81	1,266.64
Accounts Payable	35.91	48.19	27.14	77.20
Accrued Expenses	48.37	25.63	44.94	27.94
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	655.87	0.00	-	2.26
Other Current liabilities, Total	21.00	17.76	19.16	22.49
Total Current Liabilities	761.16	91.58	91.25	129.89
Long Term Debt	95.16	723.89	664.54	463.55
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	95.16	723.89	664.54	463.55
Total Debt	751.03	723.89	664.54	465.81
Deferred Income Tax	-	-	-	-
Minority Interest	-	-	-	-
Other Liabilities, Total	52.92	71.14	95.60	77.41
Total Liabilities	909.23	886.61	851.39	670.85
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	0.05	0.04	0.03	0.03
Additional Paid-In Capital	864.17	792.58	736.46	700.81
Retained Earnings (Accumulated Deficit)	-367.92	-255.72	-200.80	-103.33
Treasury Stock - Common	-	-	-	-
Other Equity, Total	-1.76	-3.10	-0.27	-1.72
Total Equity	494.54	533.79	535.42	595.79
Total Liabilities & Shareholders' Equity	1,403.78	1,420.40	1,386.81	1,266.64
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	489.09	353.06	309.96	274.38

In Millions of USD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	-25.08	-112.20	-93.25	-52.06	-24.52
Depreciation/Depletion	20.33	69.80	49.28	30.62	14.73
Amortization	-	-	-	-	-
Deferred Taxes	-	-	-	-	-
Non-Cash Items	4.58	43.04	47.93	22.10	9.51
Changes in Working Capital	-0.37	6.23	6.92	1.14	-2.31
Cash from Operating Activities	-0.53	6.87	10.88	1.81	-2.58
Capital Expenditures	-17.81	-57.46	-43.69	-33.76	-20.66
Other Investing Cash Flow Items, Total	8.62	-0.55	-4.10	-0.90	-2.65
Cash from Investing Activities	-9.18	-58.01	-47.79	-34.66	-23.31
Financing Cash Flow Items	-0.49	44.77	-0.25	-0.25	18.25
Total Cash Dividends Paid	-	-	-	-	-
Issuance (Retirement) of Stock, Net	-	0.24	23.10	23.10	0.00
Issuance (Retirement) of Debt, Net	0.00	7.38	5.01	5.01	5.01
Cash from Financing Activities	-0.49	52.39	27.86	27.86	23.26
Foreign Exchange Effects	-0.29	0.59	0.32	-0.14	0.42
Net Change in Cash	-10.49	1.84	-8.73	-5.13	-2.22
Cash Interest Paid, Supplemental	0.00	27.38	18.96	16.89	7.38
Cash Taxes Paid, Supplemental	0.03	0.22	0.22	0.14	0.02

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	-112.20	-54.92	-97.47	-74.92
Depreciation/Depletion	69.80	50.05	27.42	21.86
Amortization	-	-	-	-
Deferred Taxes	-	-	-	-
Non-Cash Items	43.04	0.17	52.08	33.81
Changes in Working Capital	6.23	-0.79	-5.37	0.83
Cash from Operating Activities	6.87	-5.50	-23.34	-18.42
Capital Expenditures	-57.46	-88.18	-208.41	-324.10
Other Investing Cash Flow Items, Total	-0.55	-11.24	3.02	12.41
Cash from Investing Activities	-58.01	-99.42	-205.39	-311.69
Financing Cash Flow Items	44.77	12.95	-0.07	-75.47
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	0.24	0.53	6.32	1.00
Issuance (Retirement) of Debt, Net	7.38	69.16	188.42	461.23
Cash from Financing Activities	52.39	82.64	194.67	386.76
Foreign Exchange Effects	0.59	-0.78	-0.81	-1.12
Net Change in Cash	1.84	-23.07	-34.86	55.52
Cash Interest Paid, Supplemental	27.38	19.36	17.19	15.38
Cash Taxes Paid, Supplemental	0.22	0.10	0.11	0.31