DigitalGlobe reports revenue increase for 2013 first quarter

DigitalGlobe reports revenue increase for 2013 first quarter

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US: DigitalGlobe has released financial results for the quarter ended March 31, 2013. Revenue for the first quarter 2013 was $127.6 million, a 47% increase compared with the same period last year. The company reported a net loss for the first quarter of 2013 of $60.6 million, or $(0.96) per diluted share, compared with net income of $3.8 million or $0.08 per diluted share in the first quarter of 2012.

First quarter 2013 EBITDA was $(30.9) million. Included in this quarter”s EBITDA is $66.8 million of one-time expenses related to the combination with GeoEye. The resulting EBITDA, not including combination-related expenses, was $35.9 million, with an associated margin of 28.1%.

“We are pleased to have successfully closed our combination with GeoEye in the quarter, and are on track in executing our integration plan,” said Jeffrey R. Tarr, Chief Executive Officer.

Source: Market Wire