MacDonald, Dettwiler quarterly operating earnings slip

Mon Nov 5, 2012 5:57pm EST
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Nov 5 (Reuters) - Canadian satellite maker MacDonald, Dettwiler and Associates Ltd reported a slight decrease in third-quarter earnings from operations on Monday, as revenue declined due to lower levels of space robotics activity.

In the quarter ended Sept. 30, the company reported earnings from operations of C$28.2 million, down from C$30.3 million, a year earlier.

Quarterly revenue declined 5.6 percent to C$171.4 million.

Including the impact of foreign exchange related gains, share-based compensation and other items, the company said its net earnings in the quarter rose marginally to C$41.2 million or C$1.30 a share, up from a year-ago profit of C$39.3 million, or 95 Canadian cents a share.

The earnings jumped on a per share basis, as the company had about 31.8 million shares outstanding in the latest quarter, in comparison to about 41.2 million shares outstanding in the year-ago period.

MDA, which recently completed its $875 million acquisition of the satellite manufacturing arm of U.S. rival Loral Space and Communications Inc, said its order backlog as of Sept. 30 stood at C$752 million, up from C$656 million, as of June 30.