GlobeNewswire
2012-01-23
Gateway to Provide Mobile Satellite Coverage Throughout the
Region as SAS Distributes Globalstar Products and Services
COVINGTON, La., Jan. 23, 2012 (GLOBE NEWSWIRE) -- Globalstar, Inc.
(Nasdaq:GSAT), today announced that it has signed a letter of intent
with Shahad Al Sahra Trading Est. (SAS), for SAS's ownership and
operation of a satellite gateway ground station located in Saudi Arabia
and the establishment of a Satellite Services Agreement.
The gateway, which is already constructed, will provide Globalstar
mobile satellite voice and data services to all of Saudi Arabia and
throughout parts of the surrounding Middle East region. The transaction
would also provide SAS as the independent service provider, with access
to one of the world's largest remote petrochemical exploration markets.
"As we complete our satellite launches and deploy our new
second-generation constellation, we expect to expand our market
opportunities both domestically and abroad," said Jim Mandala, VP of
International Sales for Globalstar, Inc. "With the deployment of our
new constellation, 2012 is a turnaround year for Globalstar. We expect
today's announcement to be simply the first in a series of product and
network initiatives designed to raise Globalstar to the preeminent
position as the global leader in the mobile satellite services
marketplace."
Globalstar and SAS expect to enter into definitive agreements in the
near future and request the necessary licensing approvals from the
Saudi Arabian telecommunication regulatory authority.
Globalstar is the first mobile satellite service provider to launch a
new second-generation constellation of low earth orbit satellites. The
Company has contracted with launch services provider Arianespace to
conduct four launches of six satellites each. Three of the launches
have been successfully completed with the fourth launch expected later
this year.
Once the new constellation is deployed, Globalstar expects to provide
the world's finest quality mobile satellite voice and fastest mobile
satellite handset data services to customers in more than 120
countries. Combined with its affordable suite of consumer retail SPOT
products, Globalstar expects to offer the world's most extensive lineup
of high quality mobile satellite services to the broadest range of
commercial and retail consumer customers around the globe.
About Globalstar, Inc.
Globalstar is a leading provider of mobile satellite voice and data
services. Globalstar offers these services to commercial customers and
recreational consumers in more than 120 countries around the world. The
Company's products include mobile and fixed satellite telephones,
simplex and duplex satellite data modems, the SPOT family of mobile
satellite consumer products including the SPOT Satellite GPS
Messenger(TM) and flexible airtime service packages. Many land based
and maritime industries benefit from Globalstar with increased
productivity from remote areas beyond cellular and landline service.
Global customer segments include: oil and gas, government, mining,
forestry, commercial fishing, utilities, military, transportation,
heavy construction, emergency preparedness, and business continuity as
well as individual recreational consumers. Globalstar data solutions
are ideal for various asset and personal tracking, data monitoring and
SCADA applications. All SPOT products described in Globalstar or SPOT
LLC press releases are the products of Spot LLC, which is not
affiliated in any manner with Spot Image of Toulouse, France or Spot
Image Corporation of Chantilly, Virginia.
For more information regarding Globalstar, please visit Globalstar's
web site at www.globalstar.com
The Globalstar, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8183
Safe Harbor Language for Globalstar Releases
This press release contains certain statements such as, "Once the new
constellation is deployed, Globalstar expects to provide the world's
finest quality mobile satellite voice and fastest mobile satellite
handset data services to customers in more than 120 countries," that
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based on current expectations and assumptions that are
subject to risks and uncertainties which may cause actual results to
differ materially from the forward-looking statements. Forward-looking
statements, such as the statements regarding the Company's ability to
develop and expand its business, its anticipated capital spending
(including for future satellite procurements and launches), its ability
to manage costs, its ability to exploit and respond to technological
innovation, the effects of laws and regulations (including tax laws and
regulations) and legal and regulatory changes, the opportunities for
strategic business combinations and the effects of consolidation in its
industry on the Company and its competitors, its anticipated future
revenues, its anticipated financial resources, its expectations about
the future operational performance of its satellites (including their
projected operational lives), the expected strength of and growth
prospects for the Company's existing customers and the markets that it
serve, commercial acceptance of its new Simplex products, including its
SPOT satellite GPS messenger (TM) products, problems relating to the
ground-based facilities operated by the Company or its independent
gateway operators, worldwide economic, geopolitical and business
conditions and risks associated with doing business on a global basis
and other statements contained in this release regarding matters that
are not historical facts, involve predictions.
Any forward-looking statements made in this press release speak as of
the date made and are not guarantees of future performance. Actual
results or developments may differ materially from the expectations
expressed or implied in the forward-looking statements, and Globalstar
undertakes no obligation to update any such statements. Additional
information on factors that could influence the Company's financial
results is included in its filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and Current Reports on Form 8-K.
CONTACT: Globalstar, Inc.
Dean Hirasawa
985.335.1505
Dean.hirasawa@globalstar.com