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GeoEye-1 Satellite Attains Full Operational Capability Certification From the National Geospatial-Intelligence Agency
GeoEye, Inc. (NASDAQ: GEOY), a premier provider of satellite and aerial-based geospatial information, announced today that the National Geospatial-Intelligence Agency (NGA) notified the Company that imagery from the GeoEye-1 satellite has been certified as meeting their stringent requirements for quality, accuracy and resolution. GeoEye is now delivering GeoEye-1 sub-half-meter ground resolution satellite imagery to the National Geospatial-Intelligence Agency (NGA).
As a result of the certification, the GeoEye-1 satellite is fully commissioned and GeoEye is able to begin recognizing revenue of $12.5 million per month under the terms of a Service Level Agreement (SLA) signed with the NGA in Dec. 2008. Deliveries to NGA begin Feb. 23, 2009.
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