PALO ALTO, CA--(Marketwire -07/06/12)- Space Systems/Loral (SS/L) (LORL), the world's leading provider of commercial satellites, today announced that the EchoStar XVII satellite, designed and built for Hughes Network Systems, LLC (Hughes), a wholly owned subsidiary of EchoStar Corporation (SATS), was launched yesterday and is successfully performing post-launch maneuvers according to plan. The satellite deployed its solar arrays on schedule following its launch aboard an Ariane 5 vehicle provided by Arianespace from the European Spaceport in Kourou, French Guiana. Tomorrow, the satellite will begin firing its main thruster in order to start maneuvering into geostationary orbit.
"It has been our privilege to work with Hughes on this advanced satellite for broadband in the U.S.," said John Celli, president of Space Systems/Loral. "The excellent spirit of teamwork between our companies has resulted in one of the world's highest capacity satellites to ever launch."
EchoStar XVII, with JUPITER™ high-throughput technology, is an all Ka-band, broadband satellite designed to provide HughesNet® Gen4 high-speed satellite Internet service in North America. With more than 100 gigabits per second capacity for enhanced service to both consumers and businesses, the satellite's complex multi-spot beam architecture will focus capacity in the areas in North America with the highest traffic demand.
"Space Systems/Loral has been an excellent partner in building EchoStar XVII," said Pradman Kaul, president of Hughes. "This satellite was many years in planning and we are excited that it is now beginning its performance in space."
EchoStar XVII is based on the highly reliable Space Systems/Loral 1300 space-proven platform which provides the flexibility to support a broad range of applications and technology advances. The spacecraft is designed to deliver service for 15 years or more. With this launch, there are 70 SS/L-built geostationary satellites currently on orbit.
About Hughes Network Systems
Hughes Network Systems, LLC (Hughes) is the world's leading provider of satellite broadband for home and office, delivering innovative network technologies, managed services, and solutions for enterprises and governments globally. HughesNet is the #1 high-speed satellite Internet service in the marketplace, with offerings to suit every budget. To date, Hughes has shipped more than 2.8 million systems to customers in over 100 countries, representing over 50 percent market share. Headquartered outside Washington, D.C., in Germantown, Maryland, USA, Hughes operates sales and support offices worldwide, and is a wholly owned subsidiary of EchoStar Corporation (SATS), a premier global provider of satellite operations and digital TV solutions. For additional information about Hughes, please visit www.hughes.com.
About Space Systems/Loral
Space Systems/Loral, a subsidiary of Loral Space & Communications (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. On June 26, 2012, Loral announced that it had entered into a definitive agreement to sell Space Systems/Loral to MacDonald, Dettwiler and Associates Ltd. (MDA.TO). The closing of the transaction is subject to regulatory and other customary closing conditions.
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 2011 annual report on Form 10-K filed February 29, 2012. 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 swings in the global financial markets, financial covenants in SS/L's credit agreement, increases in interest rates and access to capital; (2) risks associated with satellite manufacturing, including competition, cyclicality of SS/L's end-user markets, 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; (4) risks related to the proposed sale of SS/L, including the effect on the business of SS/L prior to the consummation of the sale and the ability to satisfy the contractual conditions to closing the sale, including the receipt of regulatory approval; and (5) 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.
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