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[Satellite TODAY 05-03-12] Canadian satellite firm MacDonald, Dettwiler and Associates (MDA) increased its earnings from operations in the first quarter of 2012 to $29 million, compared with $27 million in the first quarter of 2011, according to the company’s latest financial results issued May 2.
MDA’s net earnings were $33 million — a modest increase from the company’s $28 million mark in the first quarter of 2011.
MDA’s first-quarter revenues, however, dropped from $206 million in the same period last year to $172 million in the 2012 opening quarter. The company’s funded backlog dropped to $765 million at the end of March 2012, compared with its $805 million backlog at the end of December 2011.
The company said it paid a semi-annual dividend in the quarter that represented a 30 percent increase in the annualized dividend rate over last year.
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