Monday, March 19, 2012

GeoEye Expects Steady NGA Funding for New Satellite

Geospatial imagery and services provider GeoEye said it fully expects to receive a $111 million payment from its principal U.S. government customer by June under the terms of a contract calling for the government to share the costs of the company's high-resolution GeoEye-2 optical Earth observation satellite.

GeoEye officials said payment from the U.S. National Geospatial-Intelligence Agency (NGA) was accrued by the agency in 2010 and 2011 — before anticipated reductions in NGA's budget...

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