COVINGTON, La., Oct. 25, 2010 (GLOBE NEWSWIRE) -- Globalstar, Inc. (Nasdaq:GSAT), a leading provider of mobile satellite voice and data services to businesses, government, and individuals today announced that CEO Peter Dalton will preside over the NASDAQ Opening Bell ceremony on Tuesday, October 26th. Mr. Dalton will be joined by Chief Financial Officer, Dirk Wild, General Counsel and Vice President of Regulatory Affairs, L. Barbee Ponder, and other company executives and representatives.
NASDAQ Event Details are as follows.
Where:
NASDAQ MarketSite – 4 Times Square – 43rd & Broadway – Broadcast Studio
When:
Tuesday, October 26, 2010 at 9:15 a.m.- 9:30 a.m. ET
Webcast: A live webcast of the NASDAQ Opening Bell will be available at:
http://www.nasdaq.com/about/marketsitetowervideo.asx
Earlier this month, Globalstar announced the successful October 19th launch of six new second-generation Globalstar satellites from the Baikonur Cosmodrome in Kazakhstan. To coincide with the launch of the new constellation satellites, the Company also announced it had refreshed its visual branding through the introduction of a new logo and the launch of a new global website re-design.
A total of four launches of six satellites each will be conducted by launch services provider Arianespace using the highly reliable Soyuz launch vehicle. 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.
Once the first six new Globalstar satellites become operational, service availability and reliability improvements will benefit those customers who use the Company's voice and Duplex data services. With each subsequent launch, these customers can expect a progressive return to the high quality system access and data session performance metrics customers enjoyed before 2007.
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. The advanced constellation combined with the Company's next-generation ground network, expected to be installed by 2012, is also designed to provide Globalstar customers with enhanced future services featuring increased data speeds of up to 256 kbps in a flexible Internet protocol multimedia subsystem (IMS) configuration. Products and services supported are expected to include: push-to-talk and multicasting, advanced messaging capabilities such as multimedia messaging or MMS, geo-location services, multi-band and multi-mode handsets, and data devices with GPS integration.
About Globalstar, Inc.
With over 400,000 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.
For more information regarding Globalstar, please visit Globalstar's web site at www.globalstar.com
The Globalstar, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8183
Safe Harbor Language for Globalstar Releases
This press release contains certain statements such as, "The advanced constellation combined with the Company's next-generation ground network, expected to be installed by 2012, is also designed to provide Globalstar customers with enhanced future services," 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.