COVINGTON, La., Feb. 9, 2011 (GLOBE NEWSWIRE) -- Globalstar, Inc. (Nasdaq:GSAT), a leading provider of mobile satellite voice and data services to businesses, government, and consumers today announced information regarding the launch of its new second-generation satellites. Globalstar expects to conduct the next launch of six satellites in May plus two additional launches of six satellites per launch within 60-90 days following the previous launch. All three launches will utilize the highly reliable Soyuz launch vehicle and each will be conducted from the Baikonur Cosmodrome in Kazakhstan. In October Globalstar successfully launched six new second-generation satellites using the Soyuz.
"As planned, during the orbit-raising of the first new satellites launched in October, we continue to validate our on-orbit acceptance tests and operating procedures for each of the new spacecraft," said Tony Navarra, President, Global Operations for Globalstar, Inc. "Our six-month validation period is being used to confirm our satellite design and performance. Once complete, and barring any unforeseen issues, we will be able to confirm a more specific scheduled launch date."
Globalstar contracted with launch services provider Arianespace for a total of four launches of six satellites each using the Soyuz. Globalstar plans to integrate the 24 new second-generation satellites with the eight first-generation satellites that were launched in 2007, to form a 32 satellite constellation. Globalstar signed a contract with satellite manufacturer Thales Alenia Space in late 2006 for the design, manufacture and delivery of its second-generation constellation satellites. The new satellites are designed to support Globalstar's current lineup of voice, Duplex and Simplex data products and services including the Company's lineup of SPOT retail consumer products.
About Globalstar, Inc.
With over 425,000 subscribers, Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to commercial customers and recreational consumers with coverage in more than 120 countries around the world. The Company's products include mobile and fixed satellite telephones, simplex and duplex satellite data modems, the SPOT Satellite GPS Messenger™ and flexible airtime 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.
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Safe Harbor Language for Globalstar Releases
This press release contains certain statements such as, "Globalstar expects to conduct the next launch of six satellites in May plus two additional launches of six satellites per launch within 60-90 days following the previous launch," that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including demand for our products and services, including commercial acceptance of our new Simplex products, including the SPOT Satellite GPS Messenger; problems relating to the ground-based facilities operated by us or by independent gateway operators; the pace and effects of industry consolidation; changes in technology; our ability to continue to attract and retain qualified personnel; worldwide economic, geopolitical and business conditions and risks associated with doing business on a global basis; and legal, regulatory, and tax developments, including changes in domestic and international government regulation.
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.
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