COVINGTON, La., Nov. 29, 2011 (GLOBE NEWSWIRE) -- Globalstar, Inc. (Nasdaq:GSAT), a leading provider of mobile satellite voice and data services to businesses, governments and consumers, today announced plans to launch six new second-generation satellites on December 25th. Globalstar made the decision after consulting with satellite manufacturer Thales Alenia Space and has been informed by launch services provider Arianespace and their Roscosmos team partners that the launch is now confirmed.
"We are very pleased to announce that we are proceeding with our launch plans for a December 25th launch date," said Jay Monroe, Chairman and CEO of Globalstar, Inc. "Once successfully completed, we will be only one launch away from completing our four second-generation satellite launches and restoring the industry's highest quality satellite service".
This will be the third launch of Globalstar's second-generation constellation satellites. Globalstar currently expects to complete the fourth launch in the first half of 2012. The Company initially launched six new satellites in October of 2010 and six additional satellites were launched in July of this year. In order to reduce the risk of any possible momentum wheel issues, and based on a recommendation from Thales Alenia Space, one satellite originally scheduled for the third launch is being replaced by another spacecraft already at the Baikonur Cosmodrome launch site.
Additionally, the Company announced that the third satellite from the second launch in July is now operational and is providing improved mobile and data services to its global customer base. The remaining three satellites from the July launch are expected to be placed into service over the coming few months.
About Globalstar, Inc.
Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to commercial customers and recreational consumers 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 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. All SPOT products described in this press release are the products of Spot LLC, which is not affiliated in any manner with Spot Image of Toulouse, France or Spot Image Corporation of Chantilly, Virginia.
For more information regarding Globalstar, please visit Globalstar's web site at www.globalstar.com
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Safe Harbor Language for Globalstar Releases
This press release may contain certain statements such as, "Globalstar currently expects to complete the fourth launch in the first half of 2012," that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Forward-looking statements, such as the statements regarding the Company's ability to develop and expand its business, its anticipated capital spending (including for future satellite procurements and launches), its ability to manage costs, its ability to exploit and respond to technological innovation, the effects of laws and regulations (including tax laws and regulations) and legal and regulatory changes, the opportunities for strategic business combinations and the effects of consolidation in its industry on the Company and its competitors, its anticipated future revenues, its anticipated financial resources, its expectations about the future launches and operational performance of its satellites (including their projected operational lives), the expected strength of and growth prospects for the Company's existing customers and the markets that it serve, commercial acceptance of its new Simplex products, including its SPOT Satellite GPS Messenger TM products, problems relating to the ground-based facilities operated by the Company or its independent gateway operators, worldwide economic, geopolitical and business conditions and risks associated with doing business on a global basis and other statements contained in this release regarding matters that are not historical facts, involve predictions.
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 Globalstar undertakes no obligation to update any such statements. Additional information on factors that could influence the Company's financial results is included in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.