Canada: Maxar Technologies, which formerly known as MacDonald, Dettwiler and Associates (MDA), declared its financial results for the third quarter on Friday. According to the results, the report consolidates revenues of $421.3 million with net earnings of $14.9 million and net earnings per share of $0.41.
Consolidated revenues for the third quarter of 2017 were $421.3 million compared to $495.9 million for the same period of last year. Revenues from the Communications segment were $256.0 million compared to $354.8 million for the same period of last year on a lower level of construction activity on geostationary communication satellites.
Revenues from the Surveillance and Intelligence segment increased to $165.3 million compared to $141.1 million for the third quarter of 2016 on higher revenues from contracts with U.S. government customers to perform advanced design studies and supply spacecraft for scientific research and development missions.
On October 5, 2017, the company and DigitalGlobe completed their previously announced merger transaction. Due to the timing of the closing of the transaction, DigitalGlobe financial results are not included in the Maxar third quarter 2017 financial results.
In addition, selected pro forma financial results that include DigitalGlobe for the third quarter of 2017 along with historical quarterly results are included in this release as Table 1 and Table 2. Please refer to the company’s filings for additional information regarding the pro forma calculations and adjustments.
“With the recent closing of the DigitalGlobe transaction, Maxar Technologies is now a unique, vertically-integrated space and geospatial intelligence powerhouse with end-to-end solutions expertise for commercial and government customers,” stated Howard L. Lance, President and Chief Executive Officer.
“We believe Maxar will be a powerful force for value creation through its industry-leading market position, increased scale and diversified revenue base, cost synergies and cash flow potential. We have the opportunity to drive above-industry growth across the U.S. government, international government and commercial customer segments.”
“Our DigitalGlobe business unit delivered strong third quarter results with solid revenue growth across the business, and adjusted EBITDA in line with expectations,” continued Lance. “The addition of DigitalGlobe, and the combination of its Services business with MDA’s to form our Radiant Solutions business, contributes significant advanced geospatial information and insight capabilities to Maxar, as well as adding to our growth prospects going forward.”