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Business briefs: July 17
Posted: Thu, Jul 18, 2002, 8:02 AM ET (1202 GMT)
- Boeing's Space and Communications division reported increased revenue and earnings in the fiscal second quarter, the company announced Wednesday. Boeing reported earnings of $181 million on $2.7 billion in revenue, compared to $130 million and $2.5 billion during the same quarter a year ago. Military defense programs were responsible for the increase, offsetting declines in commercial launches and satellite deliveries.
- Globalstar announced Wednesday that it has signed a contract with Space Systems/Loral for the design and construction of its next-generation satellite system. The system will use 56 low-Earth orbit and 4 geosynchronous Earth orbit spacecraft to provide voice and data services in the 2 GHz frequency range, starting in 2006. Wednesday was an FCC-mandated deadline for Globalstar and several other licensees for spectrum in that frequency range to submit satellite contracts.
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