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  • TSX: MAXR
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MDA reports first quarter 2017 results

May 02, 2017

Vancouver, BC – 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, 2017.

For the first quarter of 2017, consolidated revenues were $494.3 million compared to $562.4 million for the same period of last year. The Communications segment contributed revenues of $332.0 million compared to $403.2 million for the same period of last year, reflecting lower geostationary communications satellite bookings over the past two years. The Surveillance and Intelligence segment contributed revenues of $162.4 million, consistent with $159.2 million for the first quarter of 2016.

Operating EBITDA1 was $89.2 million for the first quarter of 2017 compared to $97.2 million for the same period of last year. The Communications segment contributed operating EBITDA of $50.5 million (Q1 2016 - $59.5 million) and the Surveillance and Intelligence segment contributed operating EBITDA of $38.6 million (Q1 2016 - $37.7 million).

Operating earnings1 were $44.9 million, or $1.23 per share1, compared to $55.9 million, or $1.53 per share, for the first quarter of 2016. The decrease reflected lower operating EBITDA, as well as higher corporate expense, additional non-cash interest expense following the securitization of orbital receivables and a higher effective income tax rate on operating earnings.

Net earnings under IFRS for the first quarter of 2017 were $5.9 million, down from $40.7 million for the same period of last year. Net earnings were impacted by the inclusion and variability of certain large, non-operational items, particularly restructuring costs and incremental legal and other professional fees related to the acquisition of DigitalGlobe, Inc.

The Company had total funded order backlog of $2.0 billion as at March 31, 2017.

The Company has declared a quarterly dividend of $0.37 per common share payable on June 30, 2017 to shareholders of record at the close of business on June 15, 2017.

The Company has declared a quarterly dividend of $0.37 per common share payable on June 30, 2017 to shareholders of record at the close of business on June 15, 2017.


Financial Highlights

Financial 

http://mdacorporation.com/corporate/investor/financial-reports

About MDA

MDA





MDA

Investor/Analyst Conference Call

Howard LanceAnil Wirasekara






http://mdacorporation.com/corporate/investor/events







Related Websites:
www.mdacorporation.com

Non-IFRS Financial Measures

operating earnings, operating earnings per shareoperating EBITDA

operating earningsOperating earnings per share

operating EBITDA



Operating 



Forward-Looking Statements






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CONTACT

mporatto@mdalimited.ca

wendy@mdacorporation.com

 

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