Terrific. So this will work in Script Editor, but it must be run in the foreground (control-command-R). And in an applet, it needs to be stay-open.
use scripting additions
use framework "Foundation"
use framework "CoreLocation"
on locationManager:locationManager didUpdateToLocation:newLocation fromLocation:oldLocation
set myData to current application's NSString's stringWithString:(newLocation's |description|())
set charSet to current application's NSCharacterSet's characterSetWithCharactersInString:"<>,()/@coursepd m"
set myList to myData's componentsSeparatedByCharactersInSet:charSet
myList's removeObjectsInArray:{"", "-", "+"}
set lat to ((myList's objectAtIndex:0) as text)
set lon to ((myList's objectAtIndex:1) as text)
set coords to lat & "," & lon
display dialog coords
locationManager's stopUpdatingLocation()
end locationManager:didUpdateToLocation:fromLocation:
set locationManager to current application's CLLocationManager's alloc()'s init()
locationManager's setDelegate:me
locationManager's startUpdatingLocation()