MDA Reports First quarter 2014 Results
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, 2014.
Consolidated revenues this quarter were $492.6 million, up from $428.6 million for the first quarter of 2013. Operating earnings¹ increased to $49.4 million, or $1.37 per share¹, compared to $41.8 million, or $1.30 per share, for the first quarter of last year. Net earnings under IFRS for the first quarter of 2014 were $25.0 million ($0.69 per share) compared to $2.2 million ($0.07 per share) for the same period a year ago.
The Company had total funded order backlog of $2.8 billion at March 31, 2014 (December 31, 2013 – $3.0 billion). Subsequent to March 31, 2014, the Company booked contracts with:
EchoStar Corporation to provide the EchoStar XXIII communication satellite.
MDA’s condensed consolidated financial statements and management’s discussion and analysis for the three months ended March 31, 2014 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, May 1, 2014 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 US/Canada: 1-888-390-0605
The Conference Call will also be Webcast live at:
Telephone replay will be available from May 1, 2014 5:30 p.m. (PDT), 8:30 p.m. (EDT) to May 15, 2014 11:59 p.m. (PDT), May 16, 2014 2:59 a.m. (EDT) at the following numbers:
Toll Free: 1-888-390-0541