GeoEye (GEOY) held their Q1 analyst call today and indicated that with GeoEye-1 now up and running that its revenues increased 26% year over year. CEO Matt O’Connell indicated that they were not able reach their full run rate of imagery during the quarter because of the ramp up time after the satellite was certified by NGA. The market had been reacting favorably to GeoEye’s stock leading up to today’s call sending the company up 55% since it traded at $18/share in mid-March. But shares were down sharply at mid-day today on the news of a possible issue with imagery collection (GeoEye ended the trading day down 13%). According to Bill Schuster, the company’s COO:
