Space Systems/Loral Selected to Provide New Satellite to Hughes for High-Speed Internet Access in North America
PALO ALTO, Calif., Jun 16, 2009 (GlobeNewswire via COMTEX News Network) -- Space Systems/Loral (SS/L), a subsidiary of Loral Space & Communications (Nasdaq:LORL) and the world's leading provider of commercial satellites, today announced that it has been selected to provide a new satellite to Hughes Network Systems, LLC, the global leader in broadband satellite networks and services. Hughes will operate the new satellite to deliver high-speed Internet access service across North America.
"We are very pleased to add Hughes to our list of valued customers," said John Celli, president and chief operating officer of Space Systems/Loral. "Satellites for broadband communications are playing an important role in making high-speed Internet service available throughout the country. Space Systems/Loral is on the leading edge of manufacturing the high power broadband satellites that
enable this type of service."
Employing a multi-spot beam, bent pipe
Ka-band architecture, the new geostationary satellite will provide significant additional capacity for HughesNet(r) service in North America and will augment the SPACEWAY(r) 3 satellite system, which Hughes put into commercial service in April, 2008.
Scheduled for launch in 2012, the new satellite is based on the powerful SS/L 1300 satellite platform, which provides the flexibility for a broad range of applications. The satellite is designed to provide service for 15 years or more.
Hughes Network Systems, LLC (HUGHES) is the global leader in providing broadband satellite networks and services for large enterprises, governments, small businesses, and consumers. HughesNet encompasses all broadband solutions and managed services from Hughes, bridging the best of satellite and terrestrial technologies. Its broadband satellite products are based on global
standards approved by the TIA, ETSI and ITU standards organizations, including IPoS/DVB-S2, RSM-A, and GMR-1. To date, Hughes has shipped more than 1.9 million systems to customers in over 100 countries.
Headquartered outside Washington, D.C., in Germantown, Maryland, USA, Hughes maintains sales and support offices worldwide. Hughes is a wholly owned subsidiary of Hughes Communications, Inc. (Nasdaq:HUGH). For additional information, please visit www.hughes.com.
About Space Systems/Loral
Based in Palo Alto, California, SS/L designs and builds satellites and spacecraft systems for commercial and government customers around the world. As the leading provider of commercial satellites, the company works closely with satellite operators to deliver spacecraft for a broad range of services including direct-to-home
television, digital audio radio, broadband Internet, and
digital multimedia broadcasting. With more power on orbit than any other satellite manufacturer, SS/L helps customers meet business objectives with advanced solutions based on space-proven heritage designs. SS/L is a wholly owned subsidiary of Loral Space & Communications Inc., a satellite communications company (Nasdaq:LORL). For more information, visit the SS/L website at www.ssloral.com and Loral's web site at www.loral.com. LORL-G.
Hughes, HughesNet, and SPACEWAY are registered trademarks of Hughes Network Systems, LLC.
This document contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words "believes," "expects," "plans," "may," "will," "would," "could,"
"should," "anticipates," "estimates," "project," "intend" or "outlook" or other variations of these words or
other similar expressions are intended to identify forward-looking statements and information. In addition, Loral Space & Communications Inc., Space Systems/Loral, Incor their representatives have made or may make forward-looking statements, orally or in writing, which may be included in, but are not limited to, various filings made from time to time with the Securities and Exchange Commission, and press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties which are described as "Risk Factors" and in the "Commitments and Contingencies" note to the financial statements in Loral's most recent annual report on Form 10-K and subsequent reports on Form 10-Q. The reader is specifically referred to these documents, as well as the
company's other filings with the Securities and Exchange Commission. Risks and uncertainties include but are not limited to (1) risks associated with financial factors, including the global economic downturn, our history of losses and financial covenants in SS/L's credit agreement; (2) risks associated with satellite manufacturing, including competition, contractual risks, creditworthiness of customers, performance of suppliers and management of our factory and personnel; (3) regulatory risks, such as the effect of U.S. export control and economic sanction laws; and (4) other risks, including litigation. The foregoing list of important factors is not exclusive. Furthermore, Loral and SS/L operate in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the control of Loral and SS/L.
This news release was distributed
by GlobeNewswire, www.globenewswire.com
SOURCE: Loral Space & Communications, Inc.
+1 (650) 852-5188
(C) Copyright 2009 GlobeNewswire, Inc. All rights reserved.
News Provided by COMTEX