Andrew Yee[_1_]
February 23rd 09, 08:12 PM
GeoEye
CONTACT:
Mark Brender
GeoEye
+1-703-629-5368
Feb. 20, 2009
GeoEye-1 Satellite Attains Full Operational Capability Certification From
the National Geospatial-Intelligence Agency
GeoEye Now Delivering the World's Highest Resolution, Most-Accurate
Satellite Imagery to the U.S. Department of Defense
DULLES, Va. -- GeoEye, Inc. , a premier provider of satellite and
aerial-based geospatial information, announced today that the National
Geospatial-Intelligence Agency (NGA) notified the Company that imagery from
the GeoEye-1 satellite has been certified as meeting their stringent
requirements for quality, accuracy and resolution. GeoEye is now delivering
GeoEye-1 sub-half-meter ground resolution satellite imagery to the National
Geospatial-Intelligence Agency (NGA).
As a result of the certification, the GeoEye-1 satellite is fully
commissioned and GeoEye is able to begin recognizing revenue of $12.5
million per month under the terms of a Service Level Agreement (SLA) signed
with the NGA in Dec. 2008. Deliveries to NGA begin Feb. 23, 2009.
"It gives me great pride to announce we have met the National
Geospatial-Intelligence Agency's requirements and are now delivering
GeoEye-1 imagery to serve the Agency's comprehensive geospatial intelligence
needs," said Matthew O'Connell, GeoEye's chief executive officer. "The NGA
continues to be our mission partner, and we appreciate their support during
satellite check-out and calibration."
"The commercial remote sensing industry can meet a large majority of our
national requirements for global mapping and observation, said Bill
Schuster, GeoEye's chief operating officer. "Now that GeoEye-1 is fully
commissioned, we can assure our customers in the U.S. and overseas they will
have access to a continuous supply of high-quality imagery well into the
next decade." He said, "We are already working on the advanced camera and
camera electronics for GeoEye-2 and look forward to continuing to serve NGA
with next-generation capabilities."
The NextView program is designed to ensure that the NGA has access to
commercial imagery in support of its mission to provide timely, relevant and
accurate geospatial intelligence in support of national security. GeoEye won
its $500-million NextView contract in September 2004 and was able to build
and launch GeoEye-1 within four years of contract award, with no cost
overruns. The prime contractor for GeoEye-1 is General Dynamics Advanced
Information Systems. The satellite's imaging system was built by ITT
Corporation.
"With this milestone, we have delivered the highest resolution imagery of
any existing commercial space-borne imaging system," said Lou Von Thaer,
president of General Dynamics Advanced Information Systems, a business unit
of General Dynamics . "The GeoEye-1 satellite combines the clarity of
imagery with the most accurate geolocation technology and provides the
blueprint for future next-generation mid-size satellite programs."
About GeoEye
GeoEye is the premier provider of geospatial information for the national
security community, strategic partners, resellers and commercial customers
to help them better map, measure and monitor the world. The Company is
recognized as the industry's trusted imagery expert for delivering reliable
service and the exceptional quality of its imagery products and solutions.
It operates a constellation of Earth imaging satellites, mapping aircraft
and has an international network of ground stations, a robust imagery
archive, and advanced imagery processing capabilities for developing
innovative geospatial products and solutions. On September 6, the Company
launched its GeoEye-1 satellite from Vandenberg Air Force Base, Calif. The
Company also provides support to academic institutions and non-governmental
organizations through the GeoEye Foundation. Headquartered in Dulles,
Virginia, GeoEye is a public company listed on the Nasdaq stock exchange
under the symbol GEOY. It maintains a comprehensive Quality Management
System (QMS) and has achieved company-wide ISO accreditation. For more
information, visit http://www.geoeye.com/ .
Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995
This release contains forward-looking statements within the meaning of
Section 27A of the Securities Act and Securities Exchange Act of 1934, as
amended. Statements including words such as "anticipate", "believe", or
"expect" and statements in the future tense are forward-looking statements.
These forward-looking statements involve known and unknown risks and
uncertainties. GeoEye's actual financial and operational results could
differ materially from those anticipated. Additional information regarding
these risk factors and uncertainties is described more fully in the
Company's SEC filings. A copy of all SEC filings may be obtained from the
SEC's EDGAR web site, http://www.sec.gov/ , or by contacting: William L.
Warren, Senior Vice President, General Counsel and Secretary, at
703-480-5672.
CONTACT:
Mark Brender
GeoEye
+1-703-629-5368
Feb. 20, 2009
GeoEye-1 Satellite Attains Full Operational Capability Certification From
the National Geospatial-Intelligence Agency
GeoEye Now Delivering the World's Highest Resolution, Most-Accurate
Satellite Imagery to the U.S. Department of Defense
DULLES, Va. -- GeoEye, Inc. , a premier provider of satellite and
aerial-based geospatial information, announced today that the National
Geospatial-Intelligence Agency (NGA) notified the Company that imagery from
the GeoEye-1 satellite has been certified as meeting their stringent
requirements for quality, accuracy and resolution. GeoEye is now delivering
GeoEye-1 sub-half-meter ground resolution satellite imagery to the National
Geospatial-Intelligence Agency (NGA).
As a result of the certification, the GeoEye-1 satellite is fully
commissioned and GeoEye is able to begin recognizing revenue of $12.5
million per month under the terms of a Service Level Agreement (SLA) signed
with the NGA in Dec. 2008. Deliveries to NGA begin Feb. 23, 2009.
"It gives me great pride to announce we have met the National
Geospatial-Intelligence Agency's requirements and are now delivering
GeoEye-1 imagery to serve the Agency's comprehensive geospatial intelligence
needs," said Matthew O'Connell, GeoEye's chief executive officer. "The NGA
continues to be our mission partner, and we appreciate their support during
satellite check-out and calibration."
"The commercial remote sensing industry can meet a large majority of our
national requirements for global mapping and observation, said Bill
Schuster, GeoEye's chief operating officer. "Now that GeoEye-1 is fully
commissioned, we can assure our customers in the U.S. and overseas they will
have access to a continuous supply of high-quality imagery well into the
next decade." He said, "We are already working on the advanced camera and
camera electronics for GeoEye-2 and look forward to continuing to serve NGA
with next-generation capabilities."
The NextView program is designed to ensure that the NGA has access to
commercial imagery in support of its mission to provide timely, relevant and
accurate geospatial intelligence in support of national security. GeoEye won
its $500-million NextView contract in September 2004 and was able to build
and launch GeoEye-1 within four years of contract award, with no cost
overruns. The prime contractor for GeoEye-1 is General Dynamics Advanced
Information Systems. The satellite's imaging system was built by ITT
Corporation.
"With this milestone, we have delivered the highest resolution imagery of
any existing commercial space-borne imaging system," said Lou Von Thaer,
president of General Dynamics Advanced Information Systems, a business unit
of General Dynamics . "The GeoEye-1 satellite combines the clarity of
imagery with the most accurate geolocation technology and provides the
blueprint for future next-generation mid-size satellite programs."
About GeoEye
GeoEye is the premier provider of geospatial information for the national
security community, strategic partners, resellers and commercial customers
to help them better map, measure and monitor the world. The Company is
recognized as the industry's trusted imagery expert for delivering reliable
service and the exceptional quality of its imagery products and solutions.
It operates a constellation of Earth imaging satellites, mapping aircraft
and has an international network of ground stations, a robust imagery
archive, and advanced imagery processing capabilities for developing
innovative geospatial products and solutions. On September 6, the Company
launched its GeoEye-1 satellite from Vandenberg Air Force Base, Calif. The
Company also provides support to academic institutions and non-governmental
organizations through the GeoEye Foundation. Headquartered in Dulles,
Virginia, GeoEye is a public company listed on the Nasdaq stock exchange
under the symbol GEOY. It maintains a comprehensive Quality Management
System (QMS) and has achieved company-wide ISO accreditation. For more
information, visit http://www.geoeye.com/ .
Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995
This release contains forward-looking statements within the meaning of
Section 27A of the Securities Act and Securities Exchange Act of 1934, as
amended. Statements including words such as "anticipate", "believe", or
"expect" and statements in the future tense are forward-looking statements.
These forward-looking statements involve known and unknown risks and
uncertainties. GeoEye's actual financial and operational results could
differ materially from those anticipated. Additional information regarding
these risk factors and uncertainties is described more fully in the
Company's SEC filings. A copy of all SEC filings may be obtained from the
SEC's EDGAR web site, http://www.sec.gov/ , or by contacting: William L.
Warren, Senior Vice President, General Counsel and Secretary, at
703-480-5672.