The award will enable value-added support to NGA, as DigitalGlobe continues to meet more advanced imagery requirements and provide final product deliverables. This award advances the production capabilities of the company's "Rapid Delivery of Online Geospatial Intelligence" (RDOG), a capability first pioneered jointly by DigitalGlobe and NGA in 2009, and which NGA has since used to develop imagery and map-based intelligence solutions for U.S. national defense, homeland security and safety of navigation in multiple geographic locations around the world.
EGD expands the EnhancedView contract to meet the government's evolving requirements for ortho-rectified products in large quantities. The new EGD product deliverables will include three elements: a nearly cloud-free wide-area mapping layer; continuous delivery of daily images via the web within 24 hours of collection; and quick-turnaround images of NGA-designated high-priority geographic locations.
"We're delighted to have this opportunity to deliver more value to the NGA as a result of our continued focus on innovation and execution," said Jeffrey R. Tarr, President and Chief Executive Officer. "This program will better enable NGA to serve its many constituents including our troops, first responders, relief workers and others across many government agencies with near real time commercial imagery delivered over the web."
Initial production and deliveries under the agreement are expected to ramp beginning in the fourth quarter 2011, with revenue to be recognized in accordance with deliveries.
DigitalGlobe is a leading global provider of commercial high-resolution earth imagery products and services. Sourced from our own advanced satellite constellation, our imagery solutions support a wide variety of uses within defense and intelligence, civil agencies, mapping and analysis, environmental monitoring, oil and gas exploration, infrastructure management, Internet portals and navigation technology. With our collection sources and comprehensive ImageLibrary (containing more than one billion square kilometers of earth imagery and imagery products) we offer a range of on- and off-line products and services designed to enable customers to easily access and integrate our imagery into their business operations and applications. For more information, visit www.digitalglobe.com.
DigitalGlobe is a registered trademark of DigitalGlobe.
Safe Harbor Statement
Our reports, filings, presentations and public announcements may contain or incorporate forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements relate to future events or our future financial performance. We generally identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar words, although not all forward-looking statements contain these words.
Any forward-looking statements are based upon our historical performance and on our current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates or expectations will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions. A number of important factors could cause our actual results or performance to differ materially from those indicated by such forward looking statements, including: the loss, reduction or change in terms of any of our primary contracts; the loss or impairment of our satellites; delays in the construction and launch of WorldView-3; delays in implementation of planned ground system and infrastructure enhancements; loss or damage to the content contained in our ImageLibrary; interruption or failure of our ground system and other infrastructure, decrease in demand for our imagery products and services; increased competition that may reduce our market share or cause us to lower our prices; our failure to obtain or maintain required regulatory approvals and licenses; changes in U.S. foreign law or regulation that may limit our ability to distribute our imagery products and services; the costs associated with being a public company; and other important factors, all as described more fully in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. Readers are cautioned not to place undue reliance on any of these forward-looking statements.