Rochester, NY 6/20/2009 1:14:28 AM
Afternoon Gainers - TSTR - TerreStar Networks Inc. Announces Launch of New Satellite - Sourced WhisperFromWallStreet.com
TerreStar Networks Inc.
Afternoon Gainers - TSTR - TerreStar Networks Inc. Announces Launch of New Satellite - Sourced WhisperFromWallStreet.com
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TerreStar Corporation,TSTR
19.20 Up 0.98 (5.38%) 12:30pm ET1.72 Up 0.39 (29.32%) 2:05pm ET
TerreStar Networks Inc. (TerreStar), a majority owned subsidiary of TerreStar Corporation, today announced that the launch of TerreStar-1 has been scheduled for July 1, 2009. TerreStar, after consultation with our vendors, has concluded its analysis of an on-orbit anomaly that occurred recently on another operator's satellite and believes that occurrence has no bearing on the flight worthiness of TerreStar-1. Arianespace, TerreStar-1's launch services provider, has agreed to this launch date.
"We have conducted extensive analysis and our vendors have also conducted exhaustive testing and analysis. As a result, we believe TerreStar-1 is ready to launch," Dennis Matheson, CTO of TerreStar said.
ABOUT
TerreStar Corporation, through its subsidiaries, engages in the integrated satellite wireless communications business in North America. The company, through its subsidiary, TerreStar Networks Inc., intends to build, own, and operate an Internet protocol based integrated satellite and terrestrial communications network to provide mobile communication services in the United States and Canada.
Last Trade: 1.78
Day's Range: 1.44 - 1.79
52wk Range: 0.21 - 4.60
Volume: 5,541,482
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