Geo eye Report.pdf
A MESSAGE FROM Matthew O’Connell
GeoEye had another outstanding year in 2010. We reached a series of important
milestones, making 2010 a pivotal year in our evolution as a company.
Our performance in 2010 provided a
Expand our satellite constellation.
Geospatial-Intelligence Agency (NGA)
solid foundation for realizing this objec-
As part of our new $3.8 billion
awarded us a $3.8 billion, 10-year
tive. GeoEye produced revenues of
EnhancedView contract with the NGA,
contract. That award clearly demon-
$330.3 million in 2010, representing
the agency will provide up to $337.0
strates the value of our business model
growth of 21.9% over the previous
million for construction costs on our
and gives us years of revenue visibility.
year. The Company’s Adjusted EBITDA
next-generation satellite, GeoEye-2.
We launched EyeQ, an exciting new
was $176.9 million, up 33.9% from
When operational in 2013, GeoEye-2
Web services platform that has already
2009. Our strong operating perfor-
will deliver the industry’s most accurate
increased demand for and facilitated
mance resulted in an increase in our
and highest resolution satellite imagery.
distribution of our high-resolution
operating margins to 31.4%, up from
This program is on time and on budget.
imagery. Finally, we completed a strate-
26.8% in 2009.
Our largest customer, the National
gic acquisition that enhances our portfolio and diversifies the customer base
in our core vertical markets. GeoEye
is now poised to become one of the
world’s leading providers of geospatial
information and insight.
Increase accessibility to our industry-
Today, GeoEye offers decision makers
leading imagery. Our new Web-based
a precise view of changes around the
information services platform, EyeQ,
globe, deep location analytics and the
can serve up imagery and other layers
ability to access specific information on
of geospatial information on demand.
demand. Four strategic goals that we
Our customers see in EyeQ an opportu-
developed in 2010 will ensure our
nity to increase their competitiveness
leadership in these areas:
and enhance the value of the services
they provide their clients.
A History of Success
Please refer to page 34 of the Form 10-K for a description of Adjusted EBITDA.