COVINGTON, La., Oct. 1, 2012 (GLOBE NEWSWIRE) -- Globalstar, Inc. (Nasdaq:GSAT), today announced that the deployment of its second-generation constellation has entered the home stretch with the planning of an early February launch with its launch services provider, Arianespace. A successful fourth launch from the Baikonur Cosmodrome in Kazakhstan and subsequent deployment of the satellites will complete the return of the high quality and reliable service that Globalstar users have historically enjoyed.
With three launches already complete, current subscribers and new users are experiencing significantly improved performance and reliability with the industry's highest voice quality, fastest mobile satellite handset data speeds and the most affordable service. Channel partners are also enjoying greater demand for product as well as increased inquiries regarding Globalstar's resurgence.
The next few weeks will be extremely busy for Globalstar's Space Operations Team as the fourth launch campaign begins. Satellite manufacturer Thales Alenia Space has confirmed that the review and shipment of these six spacecraft will be completed by the end of October, allowing pre-launch preparations to begin at the Cosmodrome for an early February launch. A launch during the first week of February allows Globalstar to place two of the new satellites into service almost immediately after launch.Globalstar also announced that all but one of the previously launched satellites have now been placed into service as of September 29 th. The one remaining satellite is already in its operational plane and is awaiting the upload of a software upgrade to remedy the previously reported momentum wheel issue. Globalstar expects to receive the software upgrade from Thales in mid-October, upload it into the satellite and then place it back into operation. This upgrade will be available for Globalstar's other second generation satellites, if necessary. "Since Globalstar embarked on a mission to be the first MSS provider to launch a second-generation LEO constellation, nothing about this process has been quick or easy," said Jay Monroe, Chairman and CEO of Globalstar, Inc. "After 6 long years, we are proud to report that the finish line is within reach. Although the deployment of our new constellation with its improved design and capabilities has had its challenges, we can finally look forward to the long-term reliable service the new constellation will provide to our customers. We thank all of our partners for their tireless effort and our customers and distributors for their patience and support throughout the project."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV