MacDonald, Dettwiler & Associates CEO Dan Friedmann on Q2 2014 Results – Earnings Call Transcript
MacDonald, Dettwiler & Associates (MDA) released its second quarter 2014 financial results and conducted a conference call with financial analysts and investors. This is the transcript.
Executives
– Dan Friedmann – President and Chief Executive Officer
– Anil Wirasekara – Chief Financial Officer
MacDonald, Dettwiler & Associates Ltd. (OTCPK:MDDWF) Q2 2014 Earnings Conference Call July 30, 2014 5:00 PM ET
Operator
Good evening. My name is Elizabeth and I will be your conference operator today. At this time, I would like to welcome everyone to MacDonald, Dettwiler and Associates Limited 2014 Second Quarter Results Conference Call and Webcast. (Operator Instructions)
We’d like to remind you that part of today’s discussions, including responses to various questions, may contain forward-looking statements which represent the company’s estimates, future plans, objectives and expected performance as of today’s date. These statements are based on current assumptions that the company believes are reasonable, but are subject to a wide range of uncertainties and risks that could cause the actual results to differ materially from the forward-looking information. You are referred to the advisory regarding forward-looking statements contained in the second quarter earnings news release and in the company’s most recent management discussion and analysis and annual information form, both of which are available on the company’s website or SEDAR.
I would now like to turn the call over to Mr. Dan Friedmann. Please go ahead.
Dan Friedmann – President and Chief Executive Officer
Thank you. Good afternoon, ladies and gentlemen, and thank you for joining us today for MDA’s second quarter 2014 conference call. With me is Anil Wirasekara, our Chief Financial Officer. I’ll be discussing the key events that have taken place in the past few months. Anil will review our financial results for the second quarter. And then we’ll open the line for your questions.
In the Communications sector, the company signed a contract for one communication satellite, bringing the year-to-date bookings to five satellites. Hispasat 1F, our replacement satellite for Spanish satellite operator Hispasat, this satellite will provide service for television, broadband, corporate networks and other telecommunications applications in Europe and the Americas.
Bidding activity in the commercial satellite sector continues to be competitive and had very heightened level of activity. The AsiaSat 8 communication satellite built for AsiaSat, a leading satellite operator in Asia, was completed and shipped to the launch site. This satellite will be used for television broadcast, private network services and broadband services across Asia Pacific. This is the third satellite that SSL has provided to AsiaSat, and two more satellites for this long-term customer are currently in the factory.
The US Air Force Space and Missile Systems Center awarded the company two indefinite delivery, indefinite quantity contracts to work with US government agencies to host government payloads on commercial satellites. These satellites include both geostationary and low-Earth orbit missions. Under these contracts, the company has been selected to perform the first competitive study to host a NASA instrument for monitoring pollution over North America. In Canada, our Montreal operations signed a contract with an undisclosed customer to provide two communication satellite subsystems.
