Globalstar Expects To Meet Loan Terms Despite Competition

摘要

Mobile satellite services provider Globalstar has fully accounted for the competitive threat posed by Inmarsat's new hand-held satellite telephone in Globalstar's revenue and gross-profit projections for 2010 and 2011, which are trigger points for the company's package of bank loans, a senior Globalstar official said July 7.rnAnthony J. Navarra, president of global operations for Milpitas, Calif.-based Globalstar, said the company, which is going through a rough 2010 as it waits for its new satellites to launch, expects to meet the terms of the $586.3 million bank facility secured in June 2009 despite the changed competitive environment.