- Financially Speaking — GeoEye, Inc. has announced the filing of its Security and Exchange Commission 10-Q for the second quarter of 2008 and its restatements for 2005, 2006 and 2007 and the first quarter of 2008 will be delayed for up to two weeks. The additional time is required to re-calculate the proper interim period allocations of the penalties and interest related to the National Geospatial-Intelligence Agency‘s (NGA) milestone cost-sharing payments made to the company under the terms of the Government’s NextView contract. The issue under review relates to the accrual of payments made by the NGA within individual quarters during the development of the GeoEye-1 satellite. The Company continues to believe that a filing made with the IRS on August 8, 2008 will eliminate the penalties and interest in the third quarter of 2008 as discussed in its earnings release dated August 12, 2008
- Moving On Up — GeoEye, Inc. has appointed Brian O’Toole to the newly created position of chief technology officer. Mr. O’Toole has global responsibility for developing, managing, and expanding GeoEye’s location-based technology and products for applications in geospatial intelligence and location-based services. He will lead the Company’s strategic planning efforts to identify and develop new geospatial products, solutions, and services for our customers.
- Financially Speaking — Integral Systems, Inc. (NASDAQ: ISYS) has announced the Board of Directors has approved and declared a stock split. The stock split will be effected in the form of a stock dividend, for which one share of common stock will be distributed for each one share of common stock issued and outstanding to holders as of the close of business on the record date of August 25, 2008. The additional shares of common stock will be distributed to the Company’s stockholders by Registrar & Transfer Co., the Company’s transfer agent, on September 5, 2008. The Company expects that its outstanding common stock will begin to trade on a post-adjusted basis on Nasdaq on September 8, 2008. As of August 1, 2008, there were 8,555,367 shares of common stock issued and outstanding, and approximately 1,360,780 shares of common stock reserved for issuance under the Company’s equity incentive and stock purchase plans.
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