Posted: Wednesday, May 4, 2016
MacDonald, Dettwiler and Associates Ltd. (“MDA” or the “Company”) (TSX: MDA), a global communications and information company, today reported financial results for the first quarter ended March 31, 2016.
The Company posted consolidated revenues of $562 million and operating earnings1 of $56 million, or $1.53 per share1, for the first quarter of 2016. These results compare to consolidated revenues of $534 million and operating earnings of $55 million, or $1.53 per share, for the same period of 2015.
Net earnings under IFRS for the first quarter of 2016 were $41 million compared to $38 million for the same period of last year.
The Company had total funded order backlog of $2.5 billion as at March 31, 2016.
The Company has declared a quarterly dividend of $0.37 per common share payable on June 30, 2016 to shareholders of record at the close of business on June 15, 2016.
MDA’s condensed consolidated financial statements and management’s discussion and analysis (MD&A) for the three months ended March 31, 2016 are available at:
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide.
MDA’s business is focused on markets and customers with strong repeat business potential, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development.
MDA’s established global customer base is served by more than 4,800 employees operating from 11 locations in the United States, Canada, and internationally.
The Company’s common shares trade on the Toronto Stock Exchange under the symbol MDA.
Investor/Analyst Conference Call
MDA President and CEO Daniel Friedmann and Executive Vice President and CFO Anil Wirasekara will be available on a Conference Call today, May 4, 2016 at 2:30 p.m. Pacific (5:30 p.m. Eastern) to explain the financial results of the Company and to answer questions.
To participate, dial toll free North America: 1-888-390-0546