GeoEye-1 Spacecraft Will Be World's Highest Resolution Commercial Earth Imaging Satellite
DULLES, Va. -- GeoEye, Inc., a premier provider of satellite, aerial and geospatial information, announced an August 22, 2008 launch date for its next-generation, earth imaging satellite GeoEye-1. Boeing Launch Services and GeoEye finalized this launch date in an amendment to the Launch Service Agreement that was signed on May 7, 2008.
GeoEye-1 remains at the Gilbert, Ariz. facility of General Dynamics Advanced Information Systems, GeoEye's prime contractor and integrator for the satellite bus and telescope. The satellite will be shipped in early July to Vandenberg Air Force Base in time to support the August launch on a United Launch Alliance Delta II vehicle.
Bill Schuster, GeoEye's chief operating officer, said, "This contract amendment is an important step on the road to launch. The satellite was completed on budget, without any change orders which often increase costs. We have and will continue to conduct exercises, rehearsals, training and other risk-reduction measures to support the new launch date of August 22, 2008."
"GeoEye-1 demonstrates that high performing imaging satellites can be developed within predictable cost and schedule objectives," said David Shingledecker, vice president and general manager of integrated space systems for General Dynamics Advanced Information Systems. "The maturity level achieved with GeoEye-1 significantly lowers risk in the development of future imaging satellites of this class for both commercial and government customers."
GeoEye assembled a team of contractors with virtually a 100-percent mission success record. ITT's Space Systems Division built the sensor or camera. GeoEye-1 will be lifted into a near-polar orbit by a United Launch Alliance Delta II launch vehicle provided by Boeing Launch Services (Huntington Beach, Calif.).
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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 experts 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. Once launched August 22, 2008, the GeoEye-1 satellite will be the world's highest resolution and most accurate commercial imaging satellite. 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. 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.