ViaSat Reschedules Launch of ViaSat-1 ViaSat Reschedules Launch of ViaSat-1
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Carlsbad, Calif. – ViaSat Inc. (NASDAQ: VSAT) has rescheduled the launch of its high-capacity satellite ViaSat-1 with International Launch Services (ILS) to summer 2011. The delay provides additional time for repair and testing after the satellite was damaged while being moved during the testing process. All costs related to the repair and re-testing of the satellite are being assumed by the manufacturer of ViaSat-1, Space Systems/Loral, a subsidiary of Loral Space & Communications Inc.
ViaSat-1 is designed to be the first “media-enabled” satellite, with the capacity to serve the accelerating growth in bandwidth demand for multimedia Internet access over the next decade. The high capacity Ka-band spot beam satellite has planned coverage over North America. With U.S. capacity estimated at 140 Gbps, ViaSat-1 is expected to be (at launch) the highest capacity satellite in the world.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934, specifically statements about the future launch date, length of time for repair and testing of the ViaSat-1 satellite, and expected coverage and capacity of ViaSat-1. ViaSat wishes to caution you that there are some factors that could cause actual results to differ materially, including but not limited to: contractual problems, product defects, manufacturing issues or delays, regulatory issues, technologies not being developed according to anticipated schedules, or that do not perform according to expectations; and increased competition and other factors affecting the defense industry generally. In addition, please refer to the risk factors contained in ViaSat’s SEC filings available at www.sec.gov, including ViaSat’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. ViaSat undertakes no obligation to update or revise any forward-looking statements for any reason.