The company, which has rebranded as MDA Space, says its profit amounted to 11 cents per diluted share for the quarter ended March 31, down from a profit of 13 cents per diluted share in the same quarter last year.
Revenue for the quarter totalled $209.1 million, up from $201.9 million in the first quarter of 2023.
The company says its robotics and space operations business had $70.6 million in revenue, up from $62.9 million a year ago, while its satellite systems business had $87.0 million, down from $87.7 million. Geointelligence revenue totalled $51.5 million, up from $51.3 million.
On an adjusted basis, MDA Space says it earned 15 cents per diluted share in its latest quarter, down from 22 cents per diluted share a year earlier.
MDA Space shares were down $1.17 or about eight per cent at $13.72 in mid-morning trading on the Toronto Stock Exchange on Thursday.
This report by The Canadian Press was first published May 9, 2024.
Companies in this story: (TSX:MDA)
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