Lockheed Martin Completes Key Milestone On GeoEye's New Commercial Earth-Imaging Satellite

SUNNYVALE, Calif., April 17, 2012 /PRNewswire/ -- The Lockheed Martin [NYSE: LMT] team developing GeoEye's (NASDAQ: GEOY) next-generation Earth-imaging satellite successfully initiated power-on testing for the GeoEye-2 spacecraft bus. This program milestone continues the team's on-time and on-budget performance in support of GeoEye's plan for on-orbit operations in 2013.

The power-on testing of the GeoEye-2 spacecraft bus demonstrates initial electrical integration, validates the satellite's interfaces and paves the way for integrated hardware-software testing. The team has successfully installed power subsystem components, harnesses, and tracking, telemetry and control hardware on the satellite structure to support the on-time phased checkout of the integrated design. With successful completion of the GeoEye-2 spacecraft power-on testing, the Lockheed Martin team will begin the sequence of payload integration, functional testing and environmental testing phases of the program.

"In partnership with GeoEye, we continue to meet our major program milestones on schedule and within budget," said Allen Anderson, GeoEye-2 program director for Lockheed Martin Space Systems Company. "With spacecraft power-on complete, the team is focused on operational excellence and delivering GeoEye-2 to our customer affordably and efficiently."

Implementing the latest technology and utilizing the strong commercial and government satellite system expertise within Lockheed Martin, GeoEye-2 will provide significant improvements and technology advantages to its global customer base that exceed the capabilities of other existing commercial Earth-imaging satellites. The GeoEye-2 satellite will feature enhanced tasking capabilities, superior image quality and the ability to collect more imagery at a faster rate with a new ITT Exelis imaging system. When GeoEye-2 is completed, it will have the highest resolution and be the most accurate commercial satellite available in the global marketplace.

Carl Alleyne, GeoEye's vice president of Engineering, commented, "We are proud that our GeoEye-2 satellite is on schedule and on budget. GeoEye-2, with .34-meter resolution, will fully support all mission requirements, including the U.S. government's exacting standards, when operational in 2013."

Lockheed Martin Space Systems Company is developing GeoEye-2 under a firm fixed-price contract with GeoEye's U.S. government customer. GeoEye-2 will deliver unclassified imagery for intelligence analysts, war fighters, decision makers and commercial customers at a greater response rate and higher performance reliability than any existing commercial spacecraft.

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