GLOBALSTAR ANNOUNCES SATELLITE INVESTOR AND MEDIA EVENT
Investors to view new second-generation satellites nearing completion at the Thales Alenia Space facility in Rome
MILPITAS, CA., January 20 2010 -
Globalstar, Inc. (NASDAQ:GSAT), a leading provider of mobile satellite voice and data services to businesses, governments and consumers, today announced that an investment community event will take place at the Thales Alenia Space satellite manufacturing facility in Rome, Italy. On January 27, 2010 at approximately 11:30 a.m. local time, Executive Chairman Jay Monroe and President of Global Operations Tony Navarra are scheduled to present to investors and media. A copy of the meeting presentation will be posted on the Globalstar corporate website on the day of the event.
In November of 2006, Globalstar contracted Thales Alenia Space for the design, manufacture and delivery of up to 48 new Globalstar second-generation satellites. The upcoming investor and media event celebrates the pre-launch assembly, integration and testing (AIT) process of the first nearly completed satellites. These AIT steps are integral to the final acceptance of the satellites prior to delivery to the launch site.
Once the new constellation is deployed, Globalstar expects its service will return to the industry-leading voice quality and reliability levels that customers received prior to 2007. The new constellation also secures Globalstar's space segment beyond 2025, providing the Company with the ability to deliver both legacy and enhanced next-generation satellite voice and data services for at least the next 15 years.
About Globalstar, Inc.
With over 375,000 subscribers, Globalstar is the world’s largest provider of mobile satellite voice and data services. Globalstar offers these services to commercial and recreational users in more than 120 countries around the world. The Company's products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications.
For more information regarding Globalstar, please visit Globalstar's web site at www.globalstar.com
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Safe Harbor Language for Globalstar Releases
This press release contains certain statements such as, “Once the new constellation is deployed, Globalstar expects its service will return to the industry-leading voice quality and reliability levels that customers received prior to 2007,” that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including demand for our products and services, including commercial acceptance of our new Simplex products, including the SPOT Satellite GPS Messenger; problems relating to the ground-based facilities operated by us or by independent gateway operators; the pace and effects of industry consolidation; changes in technology; our ability to continue to attract and retain qualified personnel; worldwide economic, geopolitical and business conditions and risks associated with doing business on a global basis; and legal, regulatory, and tax developments, including changes in domestic and international government regulation.
Any forward-looking statements made in this press release speak as of the date made and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and we undertake no obligation to update any such statements. Additional information on factors that could influence our financial results is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
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