Satellite to Launch Base Ahead of Schedule
PALO ALTO, Calif., Jun 9, 2010 (GlobeNewswire via COMTEX News Network) -- Space Systems/Loral (SS/L), the world's leading provider of commercial satellites, today announced that it shipped a new communications satellite built for DISH Network to the Baikonur Space Center in Kazakhstan, where it is scheduled to launch in early July aboard an ILS Proton Breeze M vehicle provided by International Launch Services (ILS).
"Our team committed to delivering this highly complex and advanced satellite on a very aggressive schedule," said John Celli, president of Space Systems/Loral. "Not only did we meet the schedule but we delivered the satellite even earlier so that DISH Network could take advantage of an earlier launch vehicle availability. We believe that satellite operators such as DISH Network continue to come back to SS/L for their spacecraft because of our ability to provide highly reliable satellites with exceptional performance. However, they also get a flexible partner that always strives to accommodate changing requirements."
EchoStar XV is a powerful Direct Broadcast Satellite (DBS), which will support the expansion of DISH Network's programming and services. The satellite is based on the decade's proven Space Systems/Loral 1300 platform, which provides the power and flexibility for a broad range of applications.
"We are extremely pleased that SS/L was able to provide this satellite ahead of schedule," said Rohan Zaveri, vice president of Space Programs for EchoStar Satellite Services L.L.C., which manages DISH Network's space programs. "Our collaborative relationship with SS/L, and past lessons learned, ensure the efficiency of the satellite manufacturing and test processes. In this case, early delivery is expected to enable DISH Network to expand its advanced high-definition programming ahead of schedule."
About DISH Network
DISH Network L.L.C., a subsidiary of DISH Network Corporation (Nasdaq:DISH), provides more than 14.3 million satellite TV customers, as of March 31, 2010, with the highest quality programming and technology at the best value, including the lowest all-digital price nationwide. Customers have access to hundreds of video and audio channels, the most HD channels, the most international channels, state-of-the-art interactive TV applications, and award-winning HD and DVR technology including 1080p Video on Demand and the ViP(R) 722 HD DVR, a CNET and PC Magazine "Editors' Choice." DISH Network Corporation is included in the Nasdaq-100 Index (NDX) and is a Fortune 200 company. Visit www.dish.com, follow on Twitter, @dishnetwork ( www.twitter.com/dishnetwork), or become a Fan on Facebook, www.facebook.com/dishnetwork.
About EchoStar Satellite Services
EchoStar Satellite Services L.L.C. is a wholly owned subsidiary of EchoStar Corporation (Nasdaq:SATS) and provides solutions for distribution of video, audio and data domestically and internationally. EchoStar also offers IPTV solutions through its ViP-TV platform. EchoStar represents a significant source of Ku-band and Ka-band satellite capacity and spacecraft operation services with 10 satellites, ground-based teleport facilities, and an expansive terrestrial U.S. backhaul network along with 24-hour Satellite Access Centers. For more information, visit www.echostar.com.
About Space Systems/Loral
Space Systems/Loral, a subsidiary of Loral Space & Communications (Nasdaq:LORL), has a long history of delivering reliable satellites and spacecraft systems for commercial and government customers around the world. As the world's leading provider of commercial satellites, the company works closely with satellite operators to provide spacecraft for a broad range of services including television and radio distribution, digital audio radio, broadband Internet, and mobile communications. Billions of people around the world depend on SS/L satellites every day. For more information, visit www.ssloral.com.
About Loral Space & Communications
Loral Space & Communications is a satellite communications company. Through its Space Systems/Loral subsidiary, the company is a world-class leader in the design and manufacture of satellites and satellite systems for commercial and government applications including direct-to-home television, broadband communications, wireless telephony, weather monitoring, and air traffic management. Loral also owns 64 percent of Telesat, one of the world's largest providers of satellite services. Telesat operates a fleet of telecommunications satellites used to broadcast video entertainment programming, distribute direct-to-home video and broadband data services, and other value-added communications services. For more information, visit Loral's Web site at www.loral.com. LORL-G
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, Inc. or 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 Form 10-Q filed on May 10, 2010 and in the 2009 annual report on Form 10-K. The reader is specifically referred to this document, 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.
CONTACT: Space Systems/Loral Wendy Lewis +1 (650) 852-5188
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
News Provided by COMTEX