10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001144204-12-027699 |
| Period End Date | 20120331 |
| Filing Date | 20120510 |
| Fiscal Year | 2012 |
| Fiscal Period | Q1 |
| XBRL Instance | gsat-20120331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
63 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Accounts receivable, allowance |
AllowanceForDoubtfulAccountsReceivableCurrent
|
$7.30M | USD | Point-in-time |
| Accounts receivable, allowance |
AllowanceForDoubtfulAccountsReceivableCurrent
|
$6.71M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$8.25M | USD | Point-in-time |
| Accounts payable, contractor payables |
OtherLiabilitiesCurrent
|
$21.82M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$7.74M | USD | Point-in-time |
| Accounts payable, contractor payables |
OtherLiabilitiesCurrent
|
$32.27M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$9.95M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$33.02M | USD | Point-in-time |
| Restricted cash |
RestrictedCashAndCashEquivalentsAtCarryingValue
|
$2.50M | USD | Point-in-time |
| Accounts receivable, net of allowance of $6,712 and $7,296, respectively |
AccountsReceivableNetCurrent
|
$11.98M | USD | Point-in-time |
| Accounts receivable, net of allowance of $6,712 and $7,296, respectively |
AccountsReceivableNetCurrent
|
$12.39M | USD | Point-in-time |
| Inventory |
InventoryNet
|
$41.85M | USD | Point-in-time |
| Inventory |
InventoryNet
|
$41.24M | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$5.28M | USD | Point-in-time |
| Prepaid expenses and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$5.13M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$69.47M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$68.58M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$1.23B | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$1.22B | USD | Point-in-time |
| Restricted cash |
RestrictedCashAndCashEquivalentsNoncurrent
|
$46.78M | USD | Point-in-time |
| Restricted cash |
RestrictedCashAndCashEquivalentsNoncurrent
|
$46.78M | USD | Point-in-time |
| Deferred financing costs |
DeferredFinanceCostsNoncurrentNet
|
$53.64M | USD | Point-in-time |
| Deferred financing costs |
DeferredFinanceCostsNoncurrentNet
|
$53.48M | USD | Point-in-time |
| Advances for inventory |
InventoryNoncurrent
|
$9.16M | USD | Point-in-time |
| Advances for inventory |
InventoryNoncurrent
|
$9.16M | USD | Point-in-time |
| Intangible and other assets, net |
IntangibleAssetsAndOtherAssetsNoncurrent
|
$14.18M | USD | Point-in-time |
| Intangible and other assets, net |
IntangibleAssetsAndOtherAssetsNoncurrent
|
$23.80M | USD | Point-in-time |
| Total assets |
Assets
|
$1.42B | USD | Point-in-time |
| Total assets |
Assets
|
$1.42B | USD | Point-in-time |
| Accounts payable, including contractor payables of $21,821 and $32,275, respectively |
AccountsPayableCurrent
|
$47.81M | USD | Point-in-time |
| Accounts payable, including contractor payables of $21,821 and $32,275, respectively |
AccountsPayableCurrent
|
$31.19M | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrent
|
$28.81M | USD | Point-in-time |
| Accrued expenses |
AccruedLiabilitiesCurrent
|
$34.02M | USD | Point-in-time |
| Payables to affiliates |
DueToAffiliateCurrent
|
$408.00K | USD | Point-in-time |
| Payables to affiliates |
DueToAffiliateCurrent
|
$378.00K | USD | Point-in-time |
| Deferred revenue |
DeferredRevenueCurrent
|
$14.59M | USD | Point-in-time |
| Deferred revenue |
DeferredRevenueCurrent
|
$14.41M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$91.58M | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$80.02M | USD | Point-in-time |
| Long-term debt |
LongTermDebtNoncurrent
|
$732.73M | USD | Point-in-time |
| Long-term debt |
LongTermDebtNoncurrent
|
$723.89M | USD | Point-in-time |
| Employee benefit obligations |
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
$7.41M | USD | Point-in-time |
| Employee benefit obligations |
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
$7.41M | USD | Point-in-time |
| Derivative liabilities |
DerivativeLiabilitiesNoncurrent
|
$39.00M | USD | Point-in-time |
| Derivative liabilities |
DerivativeLiabilitiesNoncurrent
|
$45.28M | USD | Point-in-time |
| Deferred revenue |
DeferredRevenueNoncurrent
|
$7.10M | USD | Point-in-time |
| Deferred revenue |
DeferredRevenueNoncurrent
|
$7.29M | USD | Point-in-time |
| Other non-current liabilities |
OtherLiabilitiesNoncurrent
|
$18.34M | USD | Point-in-time |
| Other non-current liabilities |
OtherLiabilitiesNoncurrent
|
$17.44M | USD | Point-in-time |
| Total non-current liabilities |
LiabilitiesNoncurrent
|
$810.85M | USD | Point-in-time |
| Total non-current liabilities |
LiabilitiesNoncurrent
|
$795.03M | USD | Point-in-time |
| Commitments and contingences (Notes 8 and 9) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingences (Notes 8 and 9) |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$792.58M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapital
|
$816.62M | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-3.10M | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-2.64M | USD | Point-in-time |
| Retained deficit |
RetainedEarningsAccumulatedDeficit
|
$-280.25M | USD | Point-in-time |
| Retained deficit |
RetainedEarningsAccumulatedDeficit
|
$-255.72M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
$533.77M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
$533.79M | USD | Point-in-time |
| Total liabilities and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$1.42B | USD | Point-in-time |
| Total liabilities and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$1.42B | USD | Point-in-time |
Income Statement
46 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Service revenues |
SalesRevenueServicesNet
|
$14.20M | USD | 1 Quarter |
| Service revenues |
SalesRevenueServicesNet
|
$12.63M | USD | 1 Quarter |
| Subscriber equipment sales |
SalesRevenueGoodsNet
|
$4.05M | USD | 1 Quarter |
| Subscriber equipment sales |
SalesRevenueGoodsNet
|
$4.11M | USD | 1 Quarter |
| Total revenue |
Revenues
|
$16.74M | USD | 1 Quarter |
| Total revenue |
Revenues
|
$18.25M | USD | 1 Quarter |
| Cost of services (exclusive of depreciation, amortization, and accretion shown separately below) |
CostOfServices
|
$7.06M | USD | 1 Quarter |
| Cost of services (exclusive of depreciation, amortization, and accretion shown separately below) |
CostOfServices
|
$5.36M | USD | 1 Quarter |
| Cost of subscriber equipment sales |
CostOfGoodsSold
|
$2.72M | USD | 1 Quarter |
| Cost of subscriber equipment sales |
CostOfGoodsSold
|
$2.78M | USD | 1 Quarter |
| Cost of subscriber equipment sales - reduction in the value of inventory |
InventoryWriteDown
|
$91.00K | USD | 1 Quarter |
| Cost of subscriber equipment sales - reduction in the value of inventory |
InventoryWriteDown
|
$249.00K | USD | 1 Quarter |
| Reduction in the value of long-lived assets |
OtherAssetImpairmentCharges
|
$79.00K | USD | 1 Quarter |
| Reduction in the value of long-lived assets |
OtherAssetImpairmentCharges
|
$285.00K | USD | 1 Quarter |
| Marketing, general, and administrative |
SellingGeneralAndAdministrativeExpense
|
$8.52M | USD | 1 Quarter |
| Marketing, general, and administrative |
SellingGeneralAndAdministrativeExpense
|
$10.18M | USD | 1 Quarter |
| Depreciation, amortization, and accretion |
DepreciationAmortizationAndAccretionNet
|
$14.73M | USD | 1 Quarter |
| Depreciation, amortization, and accretion |
DepreciationAmortizationAndAccretionNet
|
$10.61M | USD | 1 Quarter |
| Total operating expenses |
CostsAndExpenses
|
$31.01M | USD | 1 Quarter |
| Total operating expenses |
CostsAndExpenses
|
$31.67M | USD | 1 Quarter |
| Loss from operations |
OperatingIncomeLoss
|
$-12.76M | USD | 1 Quarter |
| Loss from operations |
OperatingIncomeLoss
|
$-14.93M | USD | 1 Quarter |
| Interest income and expense, net of amounts capitalized |
InterestIncomeExpenseNonoperatingNet
|
$-3.05M | USD | 1 Quarter |
| Interest income and expense, net of amounts capitalized |
InterestIncomeExpenseNonoperatingNet
|
$-1.21M | USD | 1 Quarter |
| Derivative gain (loss) |
GainLossOnDerivativeInstrumentsNetPretax
|
$-6.52M | USD | 1 Quarter |
| Derivative gain (loss) |
GainLossOnDerivativeInstrumentsNetPretax
|
$6.43M | USD | 1 Quarter |
| Other |
OtherNonoperatingIncomeExpense
|
$132.00K | USD | 1 Quarter |
| Other |
OtherNonoperatingIncomeExpense
|
$1.18M | USD | 1 Quarter |
| Total other income (expense) |
NonoperatingIncomeExpense
|
$6.40M | USD | 1 Quarter |
| Total other income (expense) |
NonoperatingIncomeExpense
|
$-9.44M | USD | 1 Quarter |
| Loss before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$-24.37M | USD | 1 Quarter |
| Loss before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$-6.36M | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$108.00K | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$157.00K | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-6.47M | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-24.52M | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$-0.07 | USD | 1 Quarter |
| Basic |
EarningsPerShareBasic
|
$-0.02 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$-0.07 | USD | 1 Quarter |
| Diluted |
EarningsPerShareDiluted
|
$-0.02 | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
293.05M | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
357.42M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
293.05M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
357.42M | shares | 1 Quarter |
| Comprehensive loss |
ComprehensiveIncomeNetOfTax
|
$-24.07M | USD | 1 Quarter |
| Comprehensive loss |
ComprehensiveIncomeNetOfTax
|
$-6.22M | USD | 1 Quarter |
Cash Flow Statement
74 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net loss |
NetIncomeLoss
|
$-6.47M | USD | 1 Quarter |
| Net loss |
NetIncomeLoss
|
$-24.52M | USD | 1 Quarter |
| Depreciation, amortization, and accretion |
DepreciationAmortizationAndAccretionNet
|
$14.73M | USD | 1 Quarter |
| Depreciation, amortization, and accretion |
DepreciationAmortizationAndAccretionNet
|
$10.61M | USD | 1 Quarter |
| Derivative gain (loss) |
GainLossOnDerivativeInstrumentsNetPretax
|
$-6.52M | USD | 1 Quarter |
| Derivative gain (loss) |
GainLossOnDerivativeInstrumentsNetPretax
|
$6.43M | USD | 1 Quarter |
| Stock-based compensation expense |
ShareBasedCompensation
|
$651.00K | USD | 1 Quarter |
| Stock-based compensation expense |
ShareBasedCompensation
|
$206.00K | USD | 1 Quarter |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$913.00K | USD | 1 Quarter |
| Amortization of deferred financing costs |
AmortizationOfFinancingCosts
|
$856.00K | USD | 1 Quarter |
| Contingent reimbursements |
OtherNoncashIncomeExpense
|
$-40.00K | USD | 1 Quarter |
| Loss on equity method investments |
IncomeLossFromEquityMethodInvestments
|
$-105.00K | USD | 1 Quarter |
| Loss on equity method investments |
IncomeLossFromEquityMethodInvestments
|
$-105.00K | USD | 1 Quarter |
| Noncash interest expense |
PaidInKindInterest
|
$1.19M | USD | 1 Quarter |
| Foreign currency and other, net |
ForeignCurrencyTransactionGainLossUnrealized
|
$507.00K | USD | 1 Quarter |
| Foreign currency and other, net |
ForeignCurrencyTransactionGainLossUnrealized
|
$-594.00K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-386.00K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$2.21M | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$-879.00K | USD | 1 Quarter |
| Inventory |
IncreaseDecreaseInInventories
|
$-756.00K | USD | 1 Quarter |
| Prepaid expenses and other current assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$-906.00K | USD | 1 Quarter |
| Prepaid expenses and other current assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$-476.00K | USD | 1 Quarter |
| Other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$-28.00K | USD | 1 Quarter |
| Other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$-646.00K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-5.67M | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$1.67M | USD | 1 Quarter |
| Payables to affiliates |
IncreaseDecreaseInDueToAffiliates
|
$30.00K | USD | 1 Quarter |
| Payables to affiliates |
IncreaseDecreaseInDueToAffiliates
|
$-376.00K | USD | 1 Quarter |
| Accrued expenses and employee benefit obligations |
IncreaseDecreaseInAccruedLiabilities
|
$-737.00K | USD | 1 Quarter |
| Accrued expenses and employee benefit obligations |
IncreaseDecreaseInAccruedLiabilities
|
$162.00K | USD | 1 Quarter |
| Other non-current liabilities |
IncreaseDecreaseInOtherOperatingLiabilities
|
$879.00K | USD | 1 Quarter |
| Other non-current liabilities |
IncreaseDecreaseInOtherOperatingLiabilities
|
$-127.00K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
$-396.00K | USD | 1 Quarter |
| Deferred revenue |
IncreaseDecreaseInDeferredRevenue
|
$-2.07M | USD | 1 Quarter |
| Net cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-3.59M | USD | 1 Quarter |
| Net cash used in operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-2.58M | USD | 1 Quarter |
| Second-generation satellites, ground and related launch costs |
PaymentsForConstructionInProcess
|
$20.54M | USD | 1 Quarter |
| Second-generation satellites, ground and related launch costs |
PaymentsForConstructionInProcess
|
$32.55M | USD | 1 Quarter |
| Property and equipment additions |
PaymentsToAcquirePropertyPlantAndEquipment
|
$802.00K | USD | 1 Quarter |
| Property and equipment additions |
PaymentsToAcquirePropertyPlantAndEquipment
|
$120.00K | USD | 1 Quarter |
| Investment in businesses |
PaymentsToAcquireEquityMethodInvestments
|
$150.00K | USD | 1 Quarter |
| Restricted cash |
IncreaseDecreaseInRestrictedCash
|
$2.50M | USD | 1 Quarter |
| Net cash from investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-33.35M | USD | 1 Quarter |
| Net cash from investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-23.31M | USD | 1 Quarter |
| Borrowings from Facility Agreement |
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
|
$-12.07M | USD | 1 Quarter |
| Borrowings from Facility Agreement |
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
|
$-5.01M | USD | 1 Quarter |
| Proceeds from contingent equity account |
ProceedsFromPaymentsForOtherFinancingActivities
|
$18.50M | USD | 1 Quarter |
| Proceeds from exercise of warrants and stock options |
ProceedsFromStockOptionAndWarrantExcercises
|
$25.00K | USD | 1 Quarter |
| Deferred financing cost payments |
PaymentsOfFinancingCosts
|
$250.00K | USD | 1 Quarter |
| Net cash from financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$23.26M | USD | 1 Quarter |
| Net cash from financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$12.10M | USD | 1 Quarter |
| Effect of exchange rate changes on cash |
EffectOfExchangeRateOnCashAndCashEquivalents
|
$89.00K | USD | 1 Quarter |
| Effect of exchange rate changes on cash |
EffectOfExchangeRateOnCashAndCashEquivalents
|
$419.00K | USD | 1 Quarter |
| Net (decrease) increase in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-24.76M | USD | 1 Quarter |
| Net (decrease) increase in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-2.22M | USD | 1 Quarter |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$8.25M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$7.74M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$9.95M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$33.02M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$8.25M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$7.74M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$9.95M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$33.02M | USD | Point-in-time |
| Interest |
InterestPaid
|
$7.74M | USD | 1 Quarter |
| Interest |
InterestPaid
|
$7.38M | USD | 1 Quarter |
| Income taxes |
IncomeTaxesPaid
|
$16.00K | USD | 1 Quarter |
| Reduction in accrued second-generation satellites and launch costs |
ConstructionInProgressExpendituresIncurredButNotYetPaid
|
$7.49M | USD | 1 Quarter |
| Reduction in accrued second-generation satellites and launch costs |
ConstructionInProgressExpendituresIncurredButNotYetPaid
|
$24.12M | USD | 1 Quarter |
| Capitalized accrued interest for second-generation satellites and launch costs |
InterestCostsIncurredCapitalized
|
$1.27M | USD | 1 Quarter |
| Capitalized accrued interest for second-generation satellites and launch costs |
InterestCostsIncurredCapitalized
|
$-1.19M | USD | 1 Quarter |
| Capitalization of the accretion of debt discount and amortization of prepaid finance costs |
PaymentsOfDebtIssuanceCosts
|
$2.69M | USD | 1 Quarter |
| Capitalization of the accretion of debt discount and amortization of prepaid finance costs |
PaymentsOfDebtIssuanceCosts
|
$5.95M | USD | 1 Quarter |
| Payments made in Common Stock |
StockIssued1
|
$281.00K | USD | 1 Quarter |
| Payments made in Common Stock |
StockIssued1
|
$774.00K | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.