GeoEye Announces First Sale of Stereo Imagery Products to the Government of India
Indian Railways to Use Stereo Imagery from GeoEye-1 to Support Development of Railway Infrastructure
HERNDON, Va., Jan. 8, 2013 /PRNewswire/ -- GeoEye, Inc. (NASDAQ: GEOY), a leading source of geospatial information and insight, announced that it received an order from the Government of India for stereo imagery from the high resolution GeoEye-1 satellite to support development of India's freight railway corridor. Stereo imagery provides three-dimensional viewing and feature recognition for a number of engineering applications, including three-dimensional feature extraction.
RITES, a Government of India Enterprise, made the six-figure purchase through the National Remote Sensing Centre (NRSC), GeoEye's Master Reseller for India. They provide engineering, consulting and project management services to India's transportation infrastructure sector.
This new customer will receive GeoEye-1's 50-centimeter stereo imagery products, the highest resolution satellite imagery that is commercially available worldwide. RITES will use this imagery for the planning, design and alignment of two high-speed transportation corridors within India.
"GeoEye-1 stereo imagery is a cost-effective investment for organizations like the Indian Railways Ministry as they pursue development programs that require them to have access to three-dimensional images of existing man-made structures and natural terrain," said Chris Tully, GeoEye's senior vice president of Sales. "This agreement also marks an important milestone for GeoEye, as the Railways Ministry is the first Indian government agency to purchase GeoEye stereo imagery."
According to a senior RITES official, "The Railways Ministry has a great responsibility in overseeing all of India's railways. Being able to refer to GeoEye's high resolution stereo imagery helps simplify our planning efforts while ensuring that we have access to the latest visualizations of the regions in which we are operating."
NRSC will oversee the delivery of the imagery to RITES and the Indian Railways Ministry.
GeoEye is a leading source of geospatial information and insight for decision makers and analysts, who need a clear understanding of our changing world to protect lives, manage risk and optimize resources. Each day, organizations in defense and intelligence, public safety, critical infrastructure, energy and online media rely on GeoEye's imagery, tools and expertise to support important missions around the globe. Widely recognized as a pioneer in high-resolution satellite imagery, GeoEye has evolved into a complete provider of geospatial intelligence solutions. GeoEye's ability to collect, process and analyze massive amounts of geospatial data allows our customers to quickly see precise changes on the ground and anticipate where events may occur in the future. GeoEye is a public company listed on NASDAQ as GEOY and is headquartered in Herndon, Virginia with more than 700 employees worldwide. Learn more at www.geoeye.com.
RITES, a Government of India Enterprise, provides comprehensive engineering, consultancy and project management services in the transport infrastructure sector under single roof. Since its inception in 1974, company has made steady progress and diversified into new areas of business such as, export/leasing, maintenance and rehabilitation of railway rolling stock, operation and maintenance of railway systems under concession agreements and BOT, BOOT and PPP projects. RITES presently has over 600 on-going projects in India and over 30 projects overseas. Learn more at www.rites.com.
The National Remote Sensing Centre (NRSC) is GeoEye's Master Reseller for India. Located at Hyderabad, NRSC is one of the centers of Indian Space Research Organisation (ISRO), striving to realize the Indian Space Vision, as a key player in Earth Observation program and Disaster Management Support program. NRSC is responsible for acquisition, processing, supply of aerial and satellite remote sensing data and continuously exploring the practical uses of remote sensing technology for multilevel (global to local) applications. It provides the necessary trained manpower through capacity building in remote sensing applications. Learn more at www.nrsc.gov.in.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Without limitation, the words "anticipates," "believes," "estimates," "expects," "intends," "plans," "will" and similar expressions are intended to identify forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future, including statements relating to growth, expected levels of expenditures and statements expressing general optimism about future operating results, are forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements and those presented elsewhere by our management from time to time are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, but are not limited to, those described in "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2011, which we filed with the Securities and Exchange Commission ("SEC") on March 13, 2012, as updated in our Quarterly Reports on Form 10-Q for the periods ended March 31, 2012, June 30, 2012, and October 31, 2012, which we filed with the SEC on May 4, 2012, August 7, 2012, and November 6, 2012, respectively. Copies of all SEC filings may be obtained from the SEC's EDGAR Web site, http://www.sec.gov/ or by contacting: William L. Warren, Executive Vice President, General Counsel and Secretary, at 703-480-5672.
SOURCE GeoEye, Inc.
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