Globalstar warns of satellite problems
Posted: Wed, Feb 7, 2007, 4:59 AM ET (0959 GMT)
Mobile satellite telephony company Globalstar warned investors late Monday that a problem with its satellite fleet could cause service outages as soon as next year. In a filing with the SEC, the company said that the degradation of the amplifiers in the S-band antennas on its spacecraft, a problem the company had been monitoring for some time, has accelerated. The company now believes that, without a fix, the problem will create service outages and other problems by some point next year. The company is already planning to launch eight replacement satellites this year, and announced a contract last year with Alcatel Alenia Space to begin work on a new generation of spacecraft, but those spacecraft are not expected to be ready for service until late 2009. Shares in Globalstar, which conducted an IPO on the Nasdaq exchange last year, fell over 25 percent in trading Tuesday.
Mobile satellite telephony company Globalstar warned investors late Monday that a problem with its satellite fleet could cause service outages as soon as next year. In a filing with the SEC, the company said that the degradation of the amplifiers in the S-band antennas on its spacecraft, a problem the company had been monitoring for some time, has accelerated. The company now believes that, without a fix, the problem will create service outages and other problems by some point next year. The company is already planning to launch eight replacement satellites this year, and announced a contract last year with Alcatel Alenia Space to begin work on a new generation of spacecraft, but those spacecraft are not expected to be ready for service until late 2009. Shares in Globalstar, which conducted an IPO on the Nasdaq exchange last year, fell over 25 percent in trading Tuesday.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
Saturday, July 4
Coolest spacecraft ever in orbit around L2
ESA — 4:24 am ET (0824 GMT) Moonwalker Aldrin says we should colonise Mars
The Herald — 4:23 am ET (0823 GMT) Interest in space memorabilia takes a leap
Financial Times — 4:22 am ET (0822 GMT) Evidence mounts that Mars was once habitable
Arizona Republic — 4:17 am ET (0817 GMT) First Moon images sent back by Nasa orbiter show incredible details just 10ft across
The Daily Mail — 4:17 am ET (0817 GMT) |