[08-03-11] Geospatial information solutions provider GeoEye<\/b> increased its 2011 second quarter revenues 7.7 percent to $87.2 million, but shed $1 million in profits at $11.1 million compared with the same period last year, the company announced in its latest financial results issued Aug. 2.<\/p>\n
The company recognized $36.6 million of imagery and other revenue under its EnhancedView Service Level Agreement with the U.S. National Geospatial-Intelligence Agency<\/b> (NGA) during the second quarter.
\n GeoEye CEO Matt O\u2019Connell said imagery revenues made up 70.6 percent of its total revenues at $61.6 million, with production and other service revenues contributing 22.5 percent of the total at $19.6 million. The company\u2019s NextView program costs accounted for $6 million in revenues, which made up the remaining 6.9 percent. GeoEye also said it invested $66 million for the continued development and construction of the GeoEye-2 satellite during the quarter, bringing its total GeoEye-2 program investment to $455.3 million.
\n \u201cDuring the quarter, GeoEye continued to produce solid revenue growth and operating results that were in-line with our expectations,\u201d O\u2019Connell said in a conference call. \u201cWe have continued to focus on the successful execution of our multi-billion-dollar EnhancedView award; the integration of our GeoEye Analytics business; and the development of new government, international and commercial customers. We are very pleased with the way we have positioned the company for second-half growth and with the revenue visibility that we have into the remainder of the year.\u201d
\n O\u2019Connell declined to comment on recent rumors that the imagery solutions provider hired Goldman Sachs to explore a possible acquisition sale to potential suitors such as Lockheed Martin, Harris Corp., EADS Astrium<\/b> and Northrop Grumman<\/b>.
\n Raymond James<\/b> Analyst Chris Quilty, however, believes that the evidence supporting the rumors is vague, but indicative of a potential move. \u201cThe report did not make clear whether GeoEye\u2019s actions were undertaken on management\u2019s initiative or were the result of an unsolicited offer. Although management was unwilling to confirm or deny the news report, we believe the rumor has some merit from the perspective that GeoEye recently acquired a more activist investor and that the mentioned buyers are all eagerly seeking growth-oriented acquisitions to offset the likelihood of flat-to-declining demand in their core Defense market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
[08-03-11] Geospatial information solutions provider GeoEye increased its 2011 second quarter revenues 7.7 percent to $87.2 million, but shed $1 million in profits at $11.1 million compared with the same period last year, the company announced in its latest financial results issued Aug. 2. The company recognized $36.6 million of imagery and other revenue […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-84445","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84445"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=84445"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84445\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=84445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=84445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=84445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}