Globalstar Successfully Returns Satellite to Commercial Service
COVINGTON, La., Dec 5, 2012 (GlobeNewswire via COMTEX) --
Globalstar, Inc. (Nasdaq:GSAT), today announced that, it has returned to commercial service the satellite affected by the momentum wheel issue. This satellite was originally launched in October 2010 and removed from service in early 2011. As a result, all 18 of Globalstar's launched second-generation satellites are now providing commercial service.
Jay Monroe, Chairman and CEO of Globalstar, Inc., added, "After more than a year of development, Globalstar and Thales Alenia Space completed the software engineering, uploaded and tested the solution, and then successfully returned the affected satellite to commercial service. The solution not only permitted this satellite to return to service but also provides a fix for similar problems that may happen across our constellation. Once again, I would like to thank all the Globalstar and Thales engineers and their respective teams for this collaborative solution."
Globalstar is on the threshold of completing the launch and deployment of its new second-generation satellite constellation. Three of four launches consisting of six satellites per launch have been completed with the fourth and final launch of six satellites scheduled for early February of 2013. Once the new constellation is fully deployed, the Company expects to provide the world's finest mobile satellite voice quality and the fastest mobile satellite handset data services at high reliability standards to commercial and government customers in more than 120 countries.
About Globalstar, Inc.
Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to commercial and recreational users in more than 120 countries around the world. The Company's products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications. Note that all SPOT products described in this or any Globalstar press release are the products of Spot LLC, which is not affiliated in any manner with Spot Image of Toulouse, France or Spot Image Corporation of Chantilly, Virginia. SPOT Connect is a trademark of Spot LLC.
For more information regarding Globalstar, please visit Globalstar's web site at www.globalstar.com
The Globalstar, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/ pkgid=8183
Safe Harbor Language for Globalstar Releases
This press release contains certain statements such as, "Three of four launches of six satellites per launch have been completed with the fourth and final launch of six satellites scheduled for early February of 2013," that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Forward-looking statements, such as the statements regarding our ability to develop and expand our business, our anticipated capital spending (including for future satellite procurements and launches), our ability to manage costs, our ability to exploit and respond to technological innovation, the effects of laws and regulations (including tax laws and regulations) and legal and regulatory changes, the opportunities for strategic business combinations and the effects of consolidation in our industry on us and our competitors, our anticipated future revenues, our anticipated financial resources, our expectations about the future operational performance of our satellites (including their projected operational lives), the expected strength of and growth prospects for our existing customers and the markets that we serve, commercial acceptance of our new Simplex products, including our SPOT satellite GPS messenger (TM) products, problems relating to the ground-based facilities operated by us or by independent gateway operators, worldwide economic, geopolitical and business conditions and risks associated with doing business on a global basis and other statements contained in this release regarding matters that are not historical facts, involve predictions.
Any forward-looking statements made in this press release speak as of the date made and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and we undertake no obligation to update any such statements. Additional information on factors that could influence our financial results is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Globalstar, Inc.
CONTACT: Globalstar, Inc.
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