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By Ted Shelsby and Ted Shelsby,Staff Writer | May 21, 1992
WASHINGTON -- The Westinghouse Electronic Systems Group in Linthicum moved into the satellite communications business yesterday when it won an $80 million contract to build phones and the ground station for a mobile communications system to serve all of North America.The contract was awarded to the local systems group, primarily a defense contractor, by American Mobile Satellite Corp.Washington-based American Mobile also announced the selection of General Dynamics Corp. to launch the first of three planned satellites for the communications project in the fourth quarter of 1994, when the service will begin.
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NEWS
By Scott Dance, The Baltimore Sun | August 22, 2013
An eruption of charged particles from the sun is hurtling toward Earth and could cause minor disruptions in the power grid and satellite communications, as well as brighten displays of the "Northern Lights", near the poles through Thursday evening. The Space Weather Prediction Center has issued a warning through 7 p.m. local time of potential geomagnetic disruptions. The area of expected impact should not come further south than Canada in North America. A coronal mass ejection, in which a burst of plasma and magnetic fields is released from the sun, occurred early Tuesday morning.
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BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | July 20, 1999
Comsat Corp., a satellite-communications company that is hoping to be taken over by Bethesda neighbor Lockheed Martin Corp., reported upturns yesterday in its second-quarter earnings and revenue.Comsat had net income of $12 million, or 22 cents per diluted share, in the quarter ending June 30. This was nearly a tripling in net income over the $4.1 million, or 8 cents per diluted share, that the company earned in the same quarter last year.Revenue was also up, with the company pulling in $155.
NEWS
February 10, 2012
If Michale Barr ("Let market decide when wind blows," Feb. 7) is correct that technologies succeed only when the free market aligns to demand and finance them, then we have wasted billions on the development of such crackpot schemes as aviation, satellite communications, hydro-power, interstate highways, nuclear energy, global positioning and, perhaps the biggest government boondoggle of all time, the Internet. The government led all of these efforts when all the market demanded was faster horses, better steam locomotives and more whale oil. By positioning Maryland as a frontrunner in developing clean, alternative energy sources, Gov.Martin O'Malleyis asking us to create an state where future generations have the infrastructure needed to prosper.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 20, 1998
Comsat Corp., the satellite communications company that is preparing to merge with Lockheed Martin Corp., said yesterday that it posted third-quarter earnings of $6.6 million, or 12 cents per diluted share. In the same quarter last year, Comsat suffered a net loss of $20.8 million, or 41 cents per diluted share.Bethesda-based Comsat had $158.4 million in revenue during the quarter, which ended Sept. 30. This marks a 9 percent increase from the $145.3 million that Comsat took in during the third quarter of 1997.
BUSINESS
By BLOOMBERG NEWS | May 3, 1997
BETHESDA -- Comsat Corp. has acquired the Mexican satellite communications unit of ICG Communications Inc. for undisclosed terms.The unit, IntelCom Red SA de CV, permits corporations to send voice and data internally via satellite. Comsat said it renamed the unit Comsat Mexico SA de CV and made it a part of Comsat International."The Mexican telecommunications market is expected to become the largest in Latin America by the year 2000," said Betty Alewine, Comsat's president and chief executive.
BUSINESS
By Michael Dresser and Michael Dresser,Sun Staff Writer | February 1, 1994
Comsat Corp., a Bethesda-based satellite communications company, said yesterday that it has agreed to acquire a Northern Virginia-based manufacturer of satellite equipment in a $150 million deal that is expected to open new opportunities for Comsat in wireless telephone technologies.The merger would join Comsat with Radiation Systems Inc., a publicly held company based in Sterling, Va. It had sales of $121.8 million during its last fiscal year, compared with $563.6 million for Comsat.Comsat said that after the merger, its systems integration business, Comsat Technology Services, would merge with Radiation Systems to form Comsat RSI. Radiation Systems Chief Executive Richard E. Thomas would become head of the new division.
BUSINESS
By Ted Shelsby and Ted Shelsby,Staff Writer | July 14, 1993
The local division of the Westinghouse Electric Corp. has been called in to help Australians with their phone calls.The Electronic Systems Group in Linthicum said yesterday that it received an order for a minimum of 7,500 mobile telephones from Optus Mobile Pty. Ltd., a Sydney, Australia-based company looking to plug its country into a wireless satellite communications system within two years.Herb Nunnally, general manager of Westinghouse's communications division, said the order will provide the first of 20,000 or more phones that might be sold to Optus by the end of the decade.
BUSINESS
By Ted Shelsby | October 10, 1991
The National Aeronautics and Space Administration awarded the University of Maryland a $5 million grant yesterday to develop a "brain bank" at the College Park campus to help industry develop new commercial applications for satellite communications.Anthony Ephremides, a professor of electrical engineering at the University of Maryland and co-director of the center, said that the new center will have input from professors at the Johns Hopkins University, University of Colorado at Boulder and West Virginia University.
BUSINESS
By Michael Dresser and Michael Dresser,Sun Staff Writer | February 19, 1994
COMSAT Corp. ended a banner year on a slightly disappointing note yesterday as the Bethesda-based company fell short of earnings expectations for the final quarter of 1993.The satellite communications company posted fourth-quarter earnings of $18.1 million, or 44 cents a share, compared with $16.9 million, or 43 cents a share, in the fourth quarter of 1992. Analysts' estimates had ranged from 45 cents a share to 52 cents a share, according to Zacks Investment Research.COMSAT stock closed yesterday at $26.625, down 37.5 cents.
BUSINESS
By June Arney and June Arney,SUN STAFF | January 10, 2001
Gray, Kirk/VanSant Advertising and Public Relations Inc. will expand to Phoenix, Ariz., after its selection to handle advertising for Iridium Satellite LLC. The Baltimore-based advertising agency recently was named the agency of record for the satellite company - an account estimated to be worth about $7 million, according to an industry expert. Iridium Satellite, led by former UNC Inc. Chairman and Chief Executive Officer Dan A. Colussy, recently acquired the assets of Iridium LLC and plans to launch global satellite communications services early this year.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | August 2, 2000
Lockheed Martin Corp. is expected to close tomorrow on its purchase of the part of Comsat Corp. it does not already own now that a final regulatory hurdle has been cleared. The Federal Communications Commission cleared the way for Bethesda-based satellite communications provider Comsat to transfer its satellite and earth station licenses to defense contractor Lockheed, also based in Bethesda. Now, Lockheed has until the close of business tomorrow to finish paperwork completing the merger, the companies said.
NEWS
By Frank D. Roylance and Frank D. Roylance,SUN STAFF | June 9, 2000
The first squalls of a geomagnetic storm described as "severe" by space weather forecasters swept past Earth yesterday. The 1.6-million-mph impact by the cloud of ionized gas and electromagnetic energy rattled electric power grids in the Northeast, and at least one commercial satellite briefly lost its bearings. "On a scale from zero to nine, we've moved into the sevens - severe levels," said David M. Speich, a space scientist at the National Oceanic and Atmospheric Administration's Space Environment Center -the space equivalent of the National Hurricane Center.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 16, 1999
Comsat Corp., the satellite communications company that plans to be taken over by Bethesda neighbor Lockheed Martin Corp., said yesterday that its third-quarter earnings and revenue were down from last year.Comsat posted a net loss of $18.4 million, or 35 cents per diluted share, compared with net income of $6.6 million -- 12 cents per share -- in the comparable quarter of 1998. The earnings figures for the quarter that ended Sept. 30 were dragged down by one-time factors, including a $36 million write-off of its direct investment in ICO Global Communications Ltd. and $5.3 million in costs related to the pending acquisition by Lockheed.
BUSINESS
By Greg Schneider and Greg Schneider,SUN STAFF | October 15, 1999
The third quarter of 1999 was kind to Columbia's Essex Corp., a small technology company that has fought to become profitable.Essex reported net income of $116,000, or 3 cents a share, on revenue of just over $1.3 million for the three-month period that ended Sept. 26. That was up from net income of $67,000, or 2 cents a share, on revenue of $1.27 million for the comparable portion of 1998.The numbers improved despite the fact that work is declining on certain types of contracts -- satellite communications support for Motorola -- that had been sustaining Essex through previous rough patches.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | July 20, 1999
Comsat Corp., a satellite-communications company that is hoping to be taken over by Bethesda neighbor Lockheed Martin Corp., reported upturns yesterday in its second-quarter earnings and revenue.Comsat had net income of $12 million, or 22 cents per diluted share, in the quarter ending June 30. This was nearly a tripling in net income over the $4.1 million, or 8 cents per diluted share, that the company earned in the same quarter last year.Revenue was also up, with the company pulling in $155.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | August 2, 2000
Lockheed Martin Corp. is expected to close tomorrow on its purchase of the part of Comsat Corp. it does not already own now that a final regulatory hurdle has been cleared. The Federal Communications Commission cleared the way for Bethesda-based satellite communications provider Comsat to transfer its satellite and earth station licenses to defense contractor Lockheed, also based in Bethesda. Now, Lockheed has until the close of business tomorrow to finish paperwork completing the merger, the companies said.
BUSINESS
By Michael Dresser and Michael Dresser,SUN STAFF | January 10, 1996
Lockheed Martin Corp.'s $9.1 billion acquisition of Loral Corp.'s defense electronics business was a blockbuster deal by anyone's standards, but the most intriguing aspect of the deal could be the part of Loral that got away.As part of the agreement, Loral's holdings in the risky but potentially lucrative satellite communications business were split off into a new company called Loral Space and Communications Corp.Bethesda-based Lockheed Martin came away with a 20 percent stake in the new corporation, at a cost of $344 million.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 20, 1998
Comsat Corp., the satellite communications company that is preparing to merge with Lockheed Martin Corp., said yesterday that it posted third-quarter earnings of $6.6 million, or 12 cents per diluted share. In the same quarter last year, Comsat suffered a net loss of $20.8 million, or 41 cents per diluted share.Bethesda-based Comsat had $158.4 million in revenue during the quarter, which ended Sept. 30. This marks a 9 percent increase from the $145.3 million that Comsat took in during the third quarter of 1997.
BUSINESS
By Greg Schneider and Greg Schneider,SUN STAFF | September 21, 1998
Bent on dominating every market it chooses, defense powerhouse Lockheed Martin Corp. said yesterday that it plans to purchase Comsat Corp. for about $2.7 billion to become a major force in global telecommunications.Between them, the two Bethesda companies handle every phase of the business -- from building satellites to launching them and then peddling their services.The deal is a complicated transaction that requires both federal approval and an act of Congress, but if completed would vault Lockheed Martin to the forefront of an industry it decided to pursue in earnest only last month.
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