- ORBCOMM announced the successful launch and deployment of its first payload of six OG2 satellites.
- In my initial coverage of ORBCOMM, I asserted that this launching was a definite must for the company.
- The successful launch of the first load of OG2 satellites strengthens my belief that this is a good long-term purchase.
ORBCOMM, Inc. (NASDAQ:ORBC) announced today (July 14, 2014) that - after three cancellations - its first payload of its next-generation OG2 satellites has been launched and placed in proper orbit. The six satellites launched today are the first of what will ultimately be 17 OG2 satellites. The satellites are intended to replace the 25 original, OG1, satellites which are approximately15-years-old, and several years beyond their intended life span. The OG2 satellite has six-times the operating capacity of the older satellite model.
In my original evaluation of the company, I made the observation that for ORBCOMM to maintain its credibility, it was essential that its OG2 constellation be successfully put in orbit. While there are still eleven more satellites to be launched (all apparently in one payload, later this year), the success in getting the first payload successfully launched and deployed goes a long way toward confirming the company's credibility.
While there may still be reason to hesitate, I believe the company has alleviated much of my concern in saying that ORBCOMM could be a good buy for the long term.