HERNDON, Va., Dec. 5, 2012 /PRNewswire/ -- GeoEye, Inc. (NASDAQ: GEOY), a leading source of geospatial information and insight, announced the opening of GeoEye Middle East Limited, a subsidiary sales office located in Masdar City, Abu Dhabi, United Arab Emirates. The office will directly serve customers in the Middle East, including governments, commercial entities and official GeoEye resellers. (Logo: http://photos.prnewswire.com/prnh/20080625/LAW528LOGO) The Abu Dhabi office is expected to expand over time due to increasing regional demand for commercial satellite imagery and information services. "We opened the Abu Dhabi office to meet the growing needs of our customers in the Middle East, to best serve our resellers in the region and to supply a variety of markets including country and local governments, the oil and gas industry, alternative energy developments, construction and urban planning and infrastructure," said Dr. Rao S. Ramayanam, GeoEye's senior regional sales director for Middle East and Africa. Masdar City is being built by the Abu Dhabi Future Energy Company, a subsidiary of Mubadala Development Company in an authorized export zone. The project is partially funded by the Abu Dhabi government as a master planned city to be completed in 2014. Masdar City will rely entirely on solar energy and other renewable energy sources such as solar power with a sustainable, zero-carbon, zero-waste ecology. The city is being constructed next to the Abu Dhabi International Airport. About GeoEyeGeoEye is a leading source of geospatial information and insight for decision makers and analysts, who need a clear understanding of our changing world to protect lives, manage risk and optimize resources. Each day, organizations in defense and intelligence, public safety, critical infrastructure, energy and online media rely on GeoEye's imagery, tools and expertise to support important missions around the globe. Widely recognized as a pioneer in high-resolution satellite imagery, GeoEye has evolved into a complete provider of geospatial intelligence solutions. GeoEye's ability to collect, process and analyze massive amounts of geospatial data allows our customers to quickly see precise changes on the ground and anticipate where events may occur in the future. GeoEye is a public company listed on NASDAQ as GEOY and is headquartered in Herndon, Virginia with more than 740 employees worldwide. Learn more at www.geoeye.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Without limitation, the words "anticipates," "believes," "estimates," "expects," "intends," "plans," "will" and similar expressions are intended to identify forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future, including statements relating to growth, expected levels of expenditures and statements expressing general optimism about future operating results, are forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements and those presented elsewhere by our management from time to time are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, but are not limited to, those described in "Risk Factors" included in our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2011, which we filed with the Securities and Exchange Commission ("SEC") on March 13, 2012. Copies of all SEC filings may be obtained from the SEC's EDGAR Web site, http://www.sec.gov/ or by contacting: William L. Warren, Executive Vice President, General Counsel and Secretary, at 703-480-5672. SOURCE GeoEye, Inc.
GeoEye (Nasdaq:GEOY) hit a new 52-week low Monday as it is currently trading at $17.92, below its previous 52-week low of $17.98 with 23,389 shares traded as of 10:10 a.m. ET. Average volume has been 277,200 shares over the past 30 days.