Status Report

MDA Reports Second Quarter 2013 Results

By SpaceRef Editor
July 31, 2013
Filed under , ,

MacDonald, Dettwiler and Associates Ltd. (“MDA” or the “Company”) (TSX: MDA), a global communications and information company, today reported financial results for the quarter ended June 30, 2013.

Consolidated revenues this quarter were $450.4 million, resulting in operating earnings1 of $43.3 million ($1.20 per share). This is compared to consolidated revenues of $164.0 million and operating earnings of $28.6 million ($0.90 per share) for the second quarter of last year. Net earnings under IFRS for the second quarter of 2013 were $31.1 million compared to a net loss of $1.3 million for the same period of last year. The results for the current year period include the activities of SSL, which the Company acquired on November 2, 2012.

Funded order backlog at June 30, 2013 was $3.0 billion (March 31, 2013 – $3.0 billion; December 31, 2012 – $2.2 billion). Since April 1, 2013, the Company has booked four contracts to provide communications satellites. Two of these contracts were included in order backlog at
June 30, 2013.

The Company has declared a semi-annual dividend of $0.65 per common share payable on September 30, 2013 to shareholders of record at the close of business on September 13, 2013.

MDA’s condensed consolidated financial statements and management’s discussion and analysis for the three and six months ended June 30, 2013 are available at:

SpaceRef staff editor.