HERNDON, Va., Aug. 6, 2012-- GeoEye, Inc. (NASDAQ: GEOY), a leading source of geospatial information and insight, announced today results for its fiscal second quarter ended June 30, 2012.

SECOND QUARTER RESULTS

"Second quarter revenue and operating results were in line with our expectations," said Matt O'Connell, GeoEye's chief executive officer and president. "Revenues in our international business grew 8.9% as compared to the same quarter last year, while our domestic business was down slightly. Growth in our Production and other services business unit was another highlight in the quarter. And on July 23, we were pleased to announce our agreement to combine with DigitalGlobe. The combination of the two companies will create a global leader in earth imagery and geospatial analysis."

Total revenues were $88.4 million for the second quarter of 2012, a $1.2 million increase from the second quarter of 2011. Net income available to common stockholders for the second quarter of 2012 was $11.7 million, or $0.51 per fully diluted share, compared to $11.1 million, or $0.49 per fully diluted share, for the second quarter of 2011. When adjusted for $2.4 million of transaction and other costs associated with the process of combining with DigitalGlobe and the divestiture of MJ Harden, net income available to common stockholders for the second quarter of 2012 was $13.0 million, or $0.57 per fully diluted share.

Operating profit was $22.1 million for the second quarter of 2012, which included $2.4 million of transaction and other costs. Operating margin was 25.0 percent for the second quarter of 2012, compared to 27.1 percent in the second quarter of 2011. Adjusted EBITDA (a non-GAAP measurement defined as net income before interest, taxes, depreciation, amortization, non-cash recognition of stock compensation expense and other items including transaction related costs) was $44.7 million for the second quarter of 2012, compared to$44.0 million in the same period in 2011.

The company ended the second quarter of 2012 with unrestricted cash, cash equivalents and short-term investments of $239.5 million; total assets of approximately $1.5 billion; stockholders' equity of $539.0 million and long-term debt of $512.6 million.

SECOND QUARTER 2012 OPERATING HIGHLIGHTS

Revenue Mix

• Imagery revenues in the second quarter of 2012 were $59.7 million, or 67.5 percent of total revenues. Production and other services revenues were $22.7 million, or 25.6 percent of total revenues. The NextView cost share accounted for revenues of $6.0 million, or 6.8 percent of total revenues.
• The company recognized $37.8 million of imagery and other revenue under the EnhancedView Service Level Agreement during the second quarter. U.S. government revenues were $60.5 million, or 68.5 percent of total revenues in the quarter.

Geographic Information

• Domestic revenues were $67.9 million for the second quarter of 2012, or 76.8 percent of total revenues for the period. International revenues were $20.5 million for the second quarter of 2012, or 23.2 percent of total revenues for the period.
• Domestic revenues decreased 0.7 percent for the second quarter of 2012, compared to the same period in 2011. International revenues increased 8.9 percent for the second quarter of 2012, compared to the same period in 2011.

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