New Awards Include Imagery Products and Services for the National Geospatial-Intelligence Agency (NGA)
Herndon, Va., Oct. 24, 2011 — GeoEye, Inc. (NASDAQ: GEOY), a leading provider of geospatial information and insight, announced today it received two new awards worth more than $25 million. These awards will increase the backlog for the Company’s production services line of business.
The first is a Delivery Order for "Enhanced GEOINT Delivery" for the National Geospatial-Intelligence Agency (NGA). This Delivery Order is authorized under the EnhancedView award that GeoEye received from the NGA in August 2010. Under this new Delivery Order, GeoEye will supply a significant amount of value-added commercial imagery over a large geographic area and distribute it through the Company’s EnhancedView Web Hosting Service. The EnhancedView Web Hosting Service makes commercial imagery readily accessible to licensed federal customers across the National System for Geospatial-Intelligence. As part of this new Enhanced GEOINT Delivery award, the Company will expand the EnhancedView Web Hosting Service to support third-party data, crisis imagery and new government portals.
The second award is a subcontract with The Boeing Co. for Controlled Image Base production. The Boeing Co. contract provides products to the NGA. Under this subcontract, which was expected earlier in the year, the Company will provide highly precise imagery products from multiple satellite imagery sources, including imagery from GeoEye’s high-resolution satellites. The Controlled Image Base products will continue to provide seamless imagery to support command and control, mission planning and rehearsal for domestic and military operations. GeoEye has a strong heritage of producing multi-source imagery products through its St. Louis, Mo. production operation.
Chris Incardona, GeoEye’s senior director of Government Programs – NGA, said, "We are proud to serve the NGA and other government agencies by delivering cost-effective geospatial solutions that anticipate the growing demands of their user base. These awards are a testament to the NGA’s commitment to serve its federal user community with easy access to the most precise and up-to-date imagery. We will continue to expand our on-demand access capabilities with near real-time, map-ready imagery and information services."
GeoEye is a leading source of geospatial information and insight for decision makers and analysts who need a clear understanding of our changing world to protect lives, manage risk and optimize resources. Each day, organizations in defense and intelligence, public safety, critical infrastructure, energy and online media rely on GeoEye’s imagery, tools and expertise to support important missions around the globe. Widely recognized as a pioneer in high-resolution satellite imagery, GeoEye has evolved into a complete provider of geospatial intelligence solutions. GeoEye’s ability to collect, process and analyze massive amounts of geospatial data allows our customers to quickly see precise changes on the ground and anticipate where events may occur in the future. GeoEye is a public company listed on NASDAQ as GEOY and is headquartered in Herndon, Virginia with more than 700 employees worldwide. Learn more at www.geoeye.com.
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This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Without limitation, the words "anticipates," "believes," "estimates," "expects," "intends," "plans," "will" and similar expressions are intended to identify forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future, including statements relating to growth, expected levels of expenditures and statements expressing general optimism about future operating results, are forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements and those presented elsewhere by our management from time to time are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, but are not limited to, those described in "Risk Factors" included in our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2010, which we filed with the Securities and Exchange Commission ("SEC") on March 15, 2011, and our Quarterly Reports on Form 10-Q for the periods ended March 31, 2011 and June 30, 2011, which we filed with the SEC on May 10, 2011 and Aug. 2, 2011, respectively. Copies of all SEC filings may be obtained from the SEC’s EDGAR Web site, http://www.sec.gov/, or by contacting: William L. Warren, Executive Vice President, General Counsel and Secretary, at 703-480-5672.