WorldView-3 Remains on Schedule for Mid-August 2014 Launch
Company Renames “GeoEye-2” to “WorldView-4”
LONGMONT, Colo.--(BUSINESS WIRE)--DigitalGlobe (NYSE: DGI), the leading provider of commercial high-resolution earth observation and advanced geospatial solutions, today announced its plans to accelerate the launch of WorldView-4, previously named GeoEye-2, to mid-2016 to meet demand from DigitalGlobe’s Direct Access and other commercial customers. A significant catalyst for this increased opportunity was the U.S. Department of Commerce’s recent decision to allow DigitalGlobe to sell imagery with resolution of up to 25 centimeters.
“As a result of the U.S. Government’s recent decision to allow us to sell our highest quality imagery, we’ve seen sufficient demand that justifies the accelerated launch of WorldView-4,” said Jeffrey R. Tarr, President and Chief Executive Officer of DigitalGlobe. “This will extend our industry leadership, capture more of our customers’ mapping and monitoring missions, provide an even stronger foundation on which to grow our Geospatial Big Data™ and analytic capabilities, and uniquely address pressing global challenges. By placing this asset on orbit where it can generate revenue rather than storing it on the ground, we will improve returns and create shareowner value.”
DigitalGlobe now plans to launch WorldView-4 in mid-2016 providing our customers with assured access to 30 centimeter resolution imagery – the highest resolution imagery commercially available. WorldView-4 will serve an expanding addressable market for high resolution imagery at 30 centimeters, and the decision to accelerate its launch is supported by demand from DigitalGlobe’s existing customer base and is expected to be accretive to returns. Together with WorldView-3, which will launch in August, and the rest of DigitalGlobe’s constellation, WorldView-4 will extend the company’s lead in resolution, accuracy, spectral diversity, revisit rate, and other aspects of imagery quality so critical to the missions of DigitalGlobe’s various customers.
DigitalGlobe's management will host a conference call today, July 31, 2014 at 5:00 p.m. ET to discuss this announcement, as well as the company’s 2014 second quarter financial and operating results, which were announced in a separate press release.
Effective immediately, DigitalGlobe has renamed the GeoEye-2 satellite. Moving forward, this satellite will be known as WorldView-4. We believe this will mitigate any future market confusion and ensure that the satellite is clearly identified as part of the larger DigitalGlobe constellation. The new name – WorldView-4 - puts it on par, from both a branding and capabilities perspective, with the other sub-50 cm WorldView-class sensors.
Conference Call Information
DigitalGlobe’s management will host a conference call today, July 31, 2014 at 5:00 p.m. ET to discuss its 2014 second quarter financial and operating results.
The conference call dial-in numbers are as follows:
U.S./Canada dial-in: (855) 212-2368
International dial-in: (315) 625-6886
A replay of the call will be available through August 31, 2014 at the following numbers:
U.S./Canada dial-in: (855) 859-2056
International dial-in: (404) 537-3406
DigitalGlobe will also sponsor a live and archived webcast of the conference call on the Investor Relations portion of its website. Click here to directly access the live webcast.
DigitalGlobe is a leading provider of commercial high-resolution earth observation and advanced geospatial solutions that help decision makers better understand our changing planet in order to save lives, resources and time. Sourced from the world's leading constellation, our imagery solutions deliver unmatched coverage and capacity to meet our customers' most demanding mission requirements. Each day customers in defense and intelligence, public safety, civil agencies, map making and analysis, environmental monitoring, oil and gas exploration, infrastructure management, navigation technology, and providers of location-based services depend on DigitalGlobe data, information, technology and expertise to gain actionable insight.
DigitalGlobe is a registered trademark of DigitalGlobe.
Safe Harbor Statement
Our reports, filings, presentations and public announcements may contain or incorporate forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements relate to future events or our future financial performance. We generally identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar words, although not all forward-looking statements contain these words.
Any forward-looking statements are based upon our historical performance and on our current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates or expectations will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions. A number of important factors could cause our actual results or performance to differ materially from those indicated by such forward looking statements, including: the loss, reduction or change in terms of any of our primary contracts; the loss or impairment of our satellites; delays in the construction and launch of WorldView-3; delays in implementation of planned ground system and infrastructure enhancements; loss or damage to the content contained in our ImageLibrary; interruption or failure of our ground system and other infrastructure, decrease in demand for our imagery products and services; increased competition that may reduce our market share or cause us to lower our prices; our failure to obtain or maintain required regulatory approvals and licenses; changes in U.S. foreign law or regulation that may limit our ability to distribute our imagery products and services; the costs associated with being a public company; and other important factors, all as described more fully in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. Readers are cautioned not to place undue reliance on any of these forward looking statements.