Geoeye Inc. Com (GEOY)

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GeoEye Inc (GEOY) (21.73 -1.40)
Jan 12 (Reuters) - GeoEye Inc's 2012 revenue could fall short of expectations due to potential cuts to a defense program under which the company is contracted to provide $3.8 billion worth of satellite imagery, said brokerage Benchmark Co. Benchmark analyst Josephine Millward, who downgraded GeoEye to "hold," expects cuts to the U.S. National Geospatial Intelligence Agency's EnhancedView program. "Fiscal year 2012 funding for the NGA's EnhancedView program was reduced by less than 10 percent, in light of overall U.S. intelligence spending reductions, according to Washington sources," Millward wrote in a note. GeoEye's 10-year contract is initially expected to add $150 million to the company's annual revenue. GeoEye's shares fell 8 percent to $21.31 on Thursday on Nasdaq. (Reporting by A. Ananthalakshmi in Bangalore; Editing by Sriraj Kalluvila) (Thomson Reuters 10:59 AM ET 01/12/2012)