Globalstar warns of satellite problems
Posted: Wed, Feb 7, 2007, 5:59 AM ET (1059 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
|
|
Monday, February 16
Artemis II Moon flyby is high-risk test, but crew is ready, Polish ESA doctor says
Polskie Radio — 4:51 am ET (0951 GMT) 6 Reasons A Mars Telecommunications Orbiter Matters To Us All
Rocket Lab — 4:50 am ET (0950 GMT) Musk’s lunar city plan supercharges America’s return to the moon
The Hill — 4:50 am ET (0950 GMT) SpaceX Dragon delivers new crew to International Space Station
UPI — 4:50 am ET (0950 GMT) ISRO rocket remains washed up in Maldives? Here's what happened
CNBC TV18 (India) — 4:38 am ET (0938 GMT) |
