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| Share | December 11, 2008
Breaking Hot Stocks Alert: GeoEye Signs Big Agreement With U.S. Military For Satellite Imagery - (MobiWire) |
- Last Trade: $37.80
- Change: +0.50
- Open: $38.10
- High: $38.59
- Low: $37.69
- Volume: 66265
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WASHINGTON - GeoEye Inc (NASDAQ: GEOY) released breaking news yesterday after the market close that it has just secured a huge satellite imagery order from the United States Military. GeoEye, Inc., together with its subsidiaries, provides space-based, and aerial imagery and geospatial information. The company, through an integrated receiving, processing, and distribution network, delivers high-resolution and low-resolution imagery, imagery-derived products, and image processing services to customers worldwide. Its imagery information products enable customers to map, measure, and monitor the earth for intelligence gathering, precision mapping, construction planning, and environmental monitoring applications, as well as provide image-derived geospatial intelligence, image processing, and photogrammetry services.
The agreement with the Pentagon's National Geospatial-Intelligence Agency (NGA) is to provide satellite imagery for $12.5 million per month for a year once its new GeoEye-1 satellite begins commercial operations.
The agreement is valued at up to $144 million, said company spokesman Mark Brender, noting the deal would take effect on Dec. 15 or whenever the company finishes calibrating its new GeoEye-1 satellite, which was launched in September.
Investor's are urged to watch for early movement with this stock as it closed Wednesday December 10, 2008 at $18.95 per share.
GeoEye Inc. operates image production and exploitation facilities located at Dulles, Virginia, Thornton, Colorado, and Mission, Kansas, as well as a satellite image processing facility in St. Louis, Missouri. The company also has remote access to a ground station in Sweden. GeoEye primarily serves national security community, strategic partners, resellers, and commercial customers. The company was founded in 1991 and is headquartered in Dulles, Virginia.
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