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
|
|
SpaceX sets Nov. 18 launch date for sixth Starship test flight
Posted: Sat, Nov 9 9:57 AM ET (1457 GMT) |
|
news links
|
|
Friday, November 22
Space Force eyes SpaceX’s Starship for future rocket cargo delivery missions
Defensescoop — 1:37 am ET (0637 GMT) Anduril receives nearly $100M deal to modernize Space Surveillance Network
Defensescoop — 1:36 am ET (0636 GMT) Anduril Awarded Program of Record Contract to Modernize Space Surveillance Network
Anduril — 1:36 am ET (0636 GMT) One contractor is on the Space Force’s naughty list
Defense One — 1:35 am ET (0635 GMT) Private Space Companies Thriving as NASA Picks SpaceX and Blue Origin for Moon Cargo Missions
Inc. — 1:34 am ET (0634 GMT) |
