Globalstar Takes Delivery of Final Batch of Second-Generation Satellites for February Launch
COVINGTON, La., Dec 10, 2012 (GlobeNewswire via COMTEX) --
Globalstar, Inc. (Nasdaq:GSAT) today announced that all six satellites scheduled for launch in early February are now at the Baikonur Cosmodrome in Kazakhstan. Following the successful completion of their pre-shipment review at Thales's manufacturing facility in Rome, the final two satellites arrived at the launch complex on December 9th.
Once deployed, the six satellites will restore full service to Globalstar's customers and position the Company as the first mobile satellite service provider to deploy a second-generation constellation of low-earth-orbit (LEO) satellites. Combined with the Company's affordable and award-winning suite of consumer retail SPOT products, Globalstar will be uniquely positioned to offer the world's most extensive lineup of highly reliable and lowest priced mobile satellite services to the broadest range of customers around the globe.
"After more than six years of design and development, we are proud to announce that Globalstar is on the threshold of completing the deployment of our new constellation. This successful delivery signals the achievement of one of the last key milestones for our fourth launch and restoration of Globalstar's industry leading service quality," said Jay Monroe, Chairman and CEO for Globalstar, Inc.
Two of the six satellites previously delivered to the launch site have already been fueled and mated to the upper stack of the dispenser of the Soyuz launch vehicle. With the delivery of the final two satellites, the Company remains on schedule for a launch in early February.
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
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Safe Harbor Language for Globalstar Releases
This press release contains certain statements such as, "Once deployed, the six satellites will restore full service for Globalstar's customers and position the Company as the first mobile satellite service provider to deploy a second-generation constellation of low-earth-orbit (LEO) satellites," 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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