MDA reports $29.5M Q3 profit, revenue up nearly 40 per cent from year ago

BRAMPTON, Ont. — MDA Space Ltd. reported $29.5 million in third-quarter net income, up from $9.3 million in the same quarter last year, as its revenue rose by nearly 40 per cent compared with a year ago.

The space technology company says the profit amounted to 24 cents per diluted share for the quarter ended Sept. 30 compared with a profit of eight cents per diluted share a year earlier.

Revenue totalled $282.4 million, up from $204.7 million in the same quarter last year.

The increase came as Satellite systems revenue amounted to $167.6 million, up from $94.4 million a year ago, while robotics and space operations revenue totalled $66.5 million, up from $61.9 million. Geointelligence revenue was $48.3 million compared with $48.4 million in the same quarter last year.

On an adjusted basis, MDA says it earned 28 cents per diluted share in its latest quarter compared with an adjusted profit of 18 cents per diluted share a year ago.

In its outlook, MDA says it now expects its full-year revenue to be between $1.045 billion and $1.065 billion, up from earlier expectations for between $1.02 billion and $1.06 billion.

This report by The Canadian Press was first published Nov. 15, 2024.

Companies in this story: (TSX:MDA)

The Canadian Press