DigitalGlobe Reports First Quarter 2015 Results

Revenue Up 8%
$31 Million of Common Share Repurchases in the Quarter Bring Total to $106 Million

LONGMONT, Colo. — (BUSINESS WIRE) — April 30, 2015DigitalGlobe, Inc. (NYSE: DGI), a leading global provider of commercial high-resolution earth observation and advanced geospatial solutions, today reported financial results for the quarter ended March 31, 2015.

First Quarter Financial Summary:

  • Grew revenue 8.2% to $169.4 million.
  • Net loss less preferred stock dividends was $(0.08) per diluted share.
  • Grew U.S. Government revenue 17.6% to $114.8 million.
  • Diversified Commercial revenue decreased (7.3)% to $54.6 million, with approximately 2 percentage points of impact attributable to continued challenges in Russia.
  • Adjusted EBITDA was $73.1 million, yielding a margin of 43.2%.
  • Cash flow from operations was $56.9 million, up 42.6% .
  • Free cash flow was $25.6 million, yielding a free cash flow margin of 15.1%.

Recent Operational Highlights:

  • Gary W. Ferrera began his role as the company’s Executive Vice President and Chief Financial Officer on March 2, 2015.
  • The company repurchased 1,009,700 shares of its common stock for $31.1 million at an average price of $30.79.

“First quarter revenue was in line with our expectations, with strong growth in our U.S. Government business offset by an expected decline in our Diversified Commercial business,” said Jeffrey R. Tarr, CEO of DigitalGlobe. “We expect our Diversified Commercial growth to improve in the second half as we monetize WorldView-3 and generate results from a number of new products and initiatives. We were also pleased with the strength of our free cash flow, which was up nearly $48 million year-over-year, enabling us to repurchase $31 million of stock in the quarter.”

Performance against key metrics:

  For the three months ended
March 31,
($ in millions)     2015       2014
Revenue $ 169.4     $ 156.5
Net (loss) income $ (4.9) $ 0.4
Adjusted EBITDA $ 73.1 $ 67.9
Adjusted EBITDA margin 43.2 % 43.4 %
Net cash flows provided by operating activities $ 56.9 $ 39.9
Free cash flow $ 25.6 $ (22.1)
Free cash flow margin 15.1 % (14.1) %
 

1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article
Featured Video
Editorial
Latest Blog Posts
Industry ExpertsMCADCafe Editorial
by Industry Experts
MCADCafe Industry Predictions for 2022 – Xometry
Jobs
GIS Data Analyst for Texas Department of Transportation at Austin, Texas
Fluid Dynamic Engineer / CFD Developer for Azore CFD Software at Livonia, Michigan
Engineering / Software Sales Representative for Azore CFD Software at Livonia, Michigan
ASIC Architects and Hardware Engineers at D. E. Shaw Research for D. E. Shaw Research at New York, New York
GIS Analyst for New Mexico Gas Company, Inc. at Albuquerque -New Mexico, Wyoming
Upcoming Events
Simulation World 2022 at United States - May 18, 2022
3DEXPERIENCE FORUM 2022 at Diplomat Beach Resort Hollywood FL - Jun 6 - 8, 2022
Smart Manufacturing Experience at Pittsburgh PA - Jun 7 - 9, 2022



© 2022 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise