DigitalGlobe Reports First Quarter 2014 Financial Results

DigitalGlobe’s headquarters set for 2015 in Westminster, Colo. Photo: Griffin Capital

[Via Satellite 05-07-2014] DigitalGlobe reported its first quarter 2014 financial results, with revenue for the quarter amounting to $156.5 million, an increase of 23 percent compared to the respective period in 2013. Net income for the first quarter was $0.4 million, with a net loss of $0.6 million to common shareholders, or a loss of $0.01 per diluted share. This net loss represents an increase of $61 million in comparison to the first quarter 2013, of which a net loss of $60.6 million was reported.

The first quarter 2013 results exclude January financial reports for GeoEye, the satellite imagery company that was merged into DigitalGlobe on Jan. 29, 2013.

“We delivered a good start to 2014,” said Jeffrey R. Tarr, CEO of DigitalGlobe. “We … made progress on a number of important growth initiatives that will extend our industry leadership in resolution, accuracy and revisits, and add unique capabilities that we believe will drive sustained growth toward the end of this year, in 2015 and beyond. In the quarter, we also scaled our Tomnod crowdsourcing platform — enabling more than 8 million volunteers to aid government customers in the search for Malaysia Airlines Flight MH370.”