Seeking Alpha
Profile| Send Message|
( followers)  

Last Thursday, GeoEye (NASDAQ:GEOY) announced it will be hiring 12 people in their production facility in St. Louis, which is responsible for professional services relating to the satellite images they take for their government and commercial customers. They've also increased the physical space at this location to do this.

It's always a bullish sign for a stock price to see staffing increase -- especially in today's environment. It speaks to their confidence in future earnings.

In the case of GEOY, their new GeoEye-1 satellite is now collecting images and generating revenues. We should start to hear about how this is translating into earnings during today's Q1 earnings call for the company.

As I've also noted here before, this coming Thursday will be the IPO for GEOY's top competitor: DigitalGlobe (NYSE:DGI). This IPO should actually be a good thing for GEOY, as it will provide the first true apples-to-apples public comp for the company.

Position: Long GEOY

Originally published in RealMoney.com

Source: GeoEye Staffing Up: A Good Sign