DigitalGlobe Boasts 28 Percent Jump in Revenue
In its financial results for the second quarter, DigitalGlobe reported a 28 percent increase in overall revenue driven largely by the company’s acquisition of The Radiant Group and strong performance in both the government and civil sectors.
According to DigitalGlobe, the 33.6 percent increase in government revenue to $37.6 million was primarily the result of contracts obtained through the recent acquisition. DigitalGlobe also reported a 19.8 percent jump in commercial revenue to $12.6 million thanks in part to demand for capacity on its WorldView 4 satellite.
For the full year, DigitalGlobe has revised its outlook to revenue in the range of $850 million to $875 million, with capital expenditures of approximately $100 million.
DigitalGlobe also stated it expects its merger with MacDonald, Dettwiler and Associates (MDA) to close in the third quarter or shortly after.
The company recently selected Space Systems/Loral (SSL) to build out its next-generation WorldView Legion constellation, which will replace the WorldView 1, WorldView 2, and GeoEye 1 satellites and double DigitalGlobe’s capacity to collect 30 cm and multi-spectral imagery starting in 2020.