ORBIMAGE, the Dulles based satellite imaging company, has reported results for its first six months ending June 30, 2004. The report is available on the Company’s website at https://www.orbimage.com. Total revenues were $11.76 million and $3.00 million for the six months ended June 30, 2004 and 2003, respectively. Net loss for the six months ended June 30, 2004 and 2003 was $12.81 million and $5.74 million, respectively. Total revenues in the first six months of 2004 reflect the commencement of OrbView-3 operations. Net loss in the first six months of 2004 reflects an increase in operating costs (including depreciation) resulting from the commencement of OrbView-3 operations and from interest expense on our Senior Notes and Senior Subordinated Notes issued on December 31, 2003.
ORBIMAGE is continuing to work on building business and is actively engaged in pursuit of new opportunities, including bidding on a new government program, called the NextView Second Vendor program, which would involve construction, launch and operation of a next generation very high- resolution satellite. The company also announced that it is planning an investor conference call to discuss its first six-month financial and operational results to be held in September. The Company will provide information for that call by press release and by posting on its website as soon as it is scheduled.