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Monday, April 7. 2008

GeoEye Non-News and Real News

Remote Sensing

The Motley Fool helped me sort these out:

First off, last week GeoEye put out a press release noting what appeared to be a new deal with Mitsubishi to resell its imagery. It wasn't - it was the continuation of an existing deal. The stock price rose 9%.

Second, and this is the real news: the company apparently didn't know when its ownership changed back in 2005. I don't fully understand the legalize, but it seems to mean the company owes a bunch of back taxes: $15.8 million.

Posted by Adena Schutzberg in Remote Sensing at 06:00 | Comments (0) | Trackbacks (0) | Bookmark and Share

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