for what it is worth-please note the following article from CBS MARKETWATCH
jeff
"Globalstar hopes satellites will turn profit
By Janet Haney, CBS MarketWatch
Last Update: 7:14 PM ET Nov 13, 1999
Stocks to Watch
SAN JOSE, Calif. (CBS.MW) -- Globalstar Telecommunications is
hoping to succeed where other high-profile satellite system companies
have failed -- to make a profit.
A Barron's article this
week highlighted
Globalstar's (GSTRF:
news, msgs) attention to
the blunders made by
Iridium and ICO Global
(ICOFQ: news, msgs),
adding that the
company expects to
learn from them.
Globalstar's mobile 48 satellite system is in its
introductory stage, with a full-scale launch expected
next year. Targeting areas without land-based
networks, the San Jose, Calif.-based company's
system can move telephone calls, messages and data
between satellites all over the world.
According to the Barron's report, Globalstar Chief
Executive Bernard Schwartz, hopes the company's
financials reflect "meaningful revenue" by early next
year along with a break-even operating profit by the
end of 2000.
The company also projects it will have 3 million
subscribers within three years.
Loral Space & Communications (LOR: news, msgs),
a provider of communications and satellite
manufacturing, owns about 43 percent of Globalstar,
according to Hoover's Online. On Thursday,
speculation about a tie-up with Microsoft boosted
Loral shares. See full story.
Globalstar shares closed up 15/16 to 27 15/16 Friday. "
Janet Haney is a reporter for CBS MarketWatch. |
