GeoEye First Quarter 2009 Results12/05/2009 |
| GeoEye, Inc. today reported its financial results for the first quarter of 2009. First quarter 2009 revenues were USD45.2 million, a 26 percent increase compared to USD35.9 million in the first quarter of 2008. The increase was primarily due to our GeoEye-1 satellite beginning commercial operations in February 2009 resulting in increased imagery orders from the National Geospatial-Intelligence Agency (NGA). In addition, we began recognizing deferred revenue related to the cost share from NGA for GeoEye-1. |
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Income from operations was USD1.7 million for the first quarter 2009 compared to USD5.6 million for the first quarter 2008. The decrease was due to increased costs related to GeoEye-1 becoming operational, offset by our initial revenues from GeoEye-1. Beginning in the first quarter of 2009, operating expenses included operating costs related to the GeoEye-1 satellite including depreciation, satellite insurance and salary costs.
Our net loss for the first quarter of 2009 was USD1.7 million compared to a net loss of USD0.8 million for the corresponding period in 2008.
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