ORBCOMM Announces Shipment of Six Satellites to the Launch Site
FORT LEE, N.J.--(BUSINESS WIRE)--ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company focused on providing two way Machine-to-Machine (M2M) communications, today announced that its Coast Guard demonstration and five Quick Launch satellites have been shipped to the launch site in Kapustin Yar, Russia. Before launching, the satellites will undergo additional functional testing to verify proper operations after shipping. The satellites will then be fueled and integrated to the launch vehicle. Waiting at the launch site is a Cosmos 3M rocket, one of the industry's most proven and reliable launch vehicles. The launch is expected to take place before the end of June 2008. Once launched, the satellites will be put into commercial service within one to three months while they undergo in-orbit spacing and functional testing.
The Coast Guard demonstration and Quick Launch satellites will have higher capacity to enhance ORBCOMM’s network performance and will be placed in an optimum orbit to augment current satellites, providing faster message delivery for the company’s new and existing customers. In addition, these satellites are equipped with Automatic Identification System (AIS) payloads which will enable them to receive and report transmissions from AIS-equipped maritime vessels. ORBCOMM has been working closely with the U.S. Coast Guard in this endeavor. ORBCOMM also intends to market AIS data services to other U.S. and international government agencies, as well as to companies whose businesses require such ship tracking and other navigational activities.
About ORBCOMM Inc.
ORBCOMM is a leading global satellite data communications company focused on Machine-to-Machine (M2M) communications. Its customers include General Electric, Caterpillar Inc., Volvo Group and Komatsu Ltd. among other industry leaders. By means of a global network of 29 low-earth orbit (LEO) satellites and accompanying ground infrastructure, ORBCOMM’s low-cost and reliable two-way data communications products and services track, monitor and control mobile and fixed assets in four core markets: commercial transportation; heavy equipment; industrial fixed assets; and marine/homeland security. The company's products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. ORBCOMM is headquartered in Fort Lee, New Jersey and has a Network Control Center in Dulles, Virginia. For more information, visit www.orbcomm.com.
Forward-Looking Statements
Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future operations and are based upon management’s current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Our actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the substantial losses we have incurred and expect to continue to incur; demand for and market acceptance of our products and services and the applications developed by our resellers; loss or decline in business from the Asset Intelligence division of General Electric Company (“GE”), value-added resellers, or VARs, and international value-added resellers, or IVARs; technological changes; pricing pressures and other competitive factors; the inability of our international resellers to develop markets outside the United States; satellite launch failures, satellite launch and construction delays and cost overruns and in-orbit satellite failures or reduced performance; the failure to launch the Coast Guard demonstration satellite by the definitive launch date; the failure of our system or reductions in levels of service due to technological malfunctions or deficiencies or other events; our inability to renew or expand our satellite constellation; financial market conditions and the results of financing efforts; political, legal regulatory, governmental, administrative and economic conditions and developments in the United States and other countries and territories in which we operate; changes in our business strategy; and the other risks described in our filings with the Securities and Exchange Commission. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
