GeoEye Successfully Completes Final Critical Design Review for the EnhancedView Program

Published on Thursday, 09 February 2012 11:41 Written by TradersHuddle Staff

Milestone Demonstrates that New Systems, including the GeoEye-2 Satellite, Meet All Operational Requirements of the National Geospatial-Intelligence Agency

HERNDON, Va., Feb. 9, 2012 /PRNewswire/ -- GeoEye, Inc. (NASDAQ: GEOY), a leading source of geospatial information and insight, announced that it has successfully completed the System Critical Design Review, the last of four critical design reviews in its EnhancedView Program.  This program includes the development of the GeoEye-2 satellite and an upgraded ground system architecture.

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On January 26, the National Geospatial-Intelligence Agency (NGA) approved the System Critical Design Review. This review was the final step to verify that GeoEye's space, ground and overall system level designs meet the stringent operational and security requirements of the NGA. Completion of these four critical design reviews also confirms the system will support all mission requirements and federal space standards for the EnhancedView Program.

Carl Alleyne, GeoEye's vice president of engineering, said, "This on-time achievement clears the way for bringing this important firm, fixed-price program to timely completion while meeting all of the U.S. government requirements."

"These milestones validate that our upgraded ground systems and GeoEye-2 satellite are designed to support the needs of the national security community, from our intelligence analysts at home to our many warfighters abroad," said Bill Schuster, GeoEye's chief operating officer.

With 34-centimeter resolution imagery, GeoEye-2 will be the world's highest resolution commercial satellite. When operational in 2013, GeoEye-2 will provide cost-effective, increased coverage and easier access for the U.S. government and its many other customers, which is particularly important during times of global crisis. GeoEye-2 will feature significant improvements over its predecessors, including enhanced tasking, the ability to collect more imagery at a faster rate and a new ITT Exelis camera.

About GeoEye

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.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

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 Report on Form 10-Q for the periods ended March 31, 2011, June 30, 2011, and Nov. 30, 2011, which we filed with the SEC on May 10, 2011, Aug. 2, 2011 and Nov. 1, 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.

SOURCE GeoEye, Inc.