(Brampton) MDA on Wednesday posted first-quarter net profit of 8.4 million, which compared with a net loss of 1.6 million for the same period last year, as revenue climbed 4%.
The space technology firm said its profit per share reached 7 cents per share for the quarter ended March 31, compared with a loss of 2 cents per share a year earlier.
Revenues totaled 128.4 million, down from 123.4 million in the first three months of 2021.
Robotics and space operations revenue climbed to 42.4 million from 34.3 million a year earlier, while geospatial intelligence revenue fell to 48.9 million from 49 million. 0 million last year.
Revenue from the satellite systems business fell to 37.1 million in the most recent quarter, from 40.1 million a year earlier.
The value of MDA’s backlog stood at 1.52 billion as of March 31, compared to 684.7 million at the end of March 2021 and 864.3 million as of December 31.
Company in this story: (TSX: MDA)