The company recognized $36.6 million of imagery and other revenue under its EnhancedView Service Level Agreement with the U.S. National Geospatial-Intelligence Agency (NGA) during the second quarter.

   GeoEye CEO Matt O’Connell said imagery revenues made up 70.6 percent of its total revenues at $61.6 million, with production and other service revenues contributing 22.5 percent of the total at $19.6 million. The company’s NextView program costs accounted for $6 million in revenues, which made up the remaining 6.9 percent. GeoEye also said it invested $66 million for the continued development and construction of the GeoEye-2 satellite during the quarter, bringing its total GeoEye-2 program investment to $455.3 million.

   “During the quarter, GeoEye continued to produce solid revenue growth and operating results that were in-line with our expectations,” O’Connell said in a conference call. “We have continued to focus on the successful execution of our multi-billion-dollar EnhancedView award; the integration of our GeoEye Analytics business; and the development of new government, international and commercial customers. We are very pleased with the way we have positioned the company for second-half growth and with the revenue visibility that we have into the remainder of the year.”

   O’Connell declined to comment on recent rumors that the imagery solutions provider hired Goldman Sachs to explore a possible acquisition sale to potential suitors such as Lockheed Martin, Harris Corp., EADS Astrium and Northrop Grumman.

   Raymond James Analyst Chris Quilty, however, believes that the evidence supporting the rumors is vague, but indicative of a potential move. “The report did not make clear whether GeoEye’s actions were undertaken on management’s initiative or were the result of an unsolicited offer. Although management was unwilling to confirm or deny the news report, we believe the rumor has some merit from the perspective that GeoEye recently acquired a more activist investor and that the mentioned buyers are all eagerly seeking growth-oriented acquisitions to offset the likelihood of flat-to-declining demand in their core Defense market.”