DigitalGlobe Q2 revenue up by 48%

DigitalGlobe Q2 revenue up by 48%

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Colorado: DigitalGlobe has reported financial results for the quarter ended June 30, 2013. The report shows second quarter 2013 revenue at $150.6 million, a 48% increase compared with the same period last year.

The company reported a net loss for the second quarter of 2013 of $(21.0) million, and a net loss available to common shareholders of $(22.0) million, including $1.0 million of preferred stock dividends, or $(0.30) per diluted share, compared with net income available to common stockholders of $9.6 million or $0.21 per diluted share in the second quarter of 2012.

Second quarter 2013 EBITDA was $25.3 million. Included in this quarter”s EBITDA is $20.6 million of restructuring and integration expenses related to the combination with GeoEye. The resulting Adjusted EBITDA was $45.7 million, with an associated margin of 30.3%. Adjusted EBITDA is defined as EBITDA not including combination related expenses.

“The second quarter capped off a solid first half of 2013, and our sales backlog and pipeline position us for accelerating revenue growth and margin expansion as we enter peak imaging season in the second half of this year,” said Jeffrey R. Tarr, Chief Executive Officer. “Importantly, we are ahead of plan executing our combination with GeoEye, and remain confident in our ability to return to 50 percent EBITDA margins when we complete our 18-month integration plan in the second half of 2014. I am proud of the efforts of our team in advancing our position as the world leader in geospatial information and analysis.”

Source: DigitalGlobe