Q2 resultsCMH issued their results tonight. Not what I expected as they had a small loss of $.01 for the quarter versus estimates of $.05
While revenue and gross margin were higher than last year, expenses related to the acquisition of Vega added $1.2 million, or roughly $.05 per share. Fortunately, they will have completed Vega's closing in Q3 and this should remove considerable costs after that.
It will be interesting to hear what they say about the SmartOne Solar as this product is still in its infancy. They were very low key simply stating in the MD&A;
We have seen a strong increase from the Telematics vertical attributable to our successful launch of SmartOne Solar remote monitoring devices.
This is what Globalstar noted in their conference call;
The new IoT solar-powered Simplex product has been a standout performer since the product launched earlier this year. And of the newly launched products, solar IoT has been the largest sales contributor.
But we are now in a position where we’re ramping to full production on these 2 newest products, SPOT X and SAT-Fi2. And I’m sure in the next few months, we’ll have a much, much better feel for the total market reception. Right now, we feel great about them. I mean, the first of the 3 products that we put out, which was the solar STX products has been just killer. We hope that rest of them are as well. https://seekingalpha.com/article/4194736-globalstar-inc-gsat-ceo-jay-monroe-q2-2018-results-earnings-call-transcript?part=single