MDA Revenues Cut By Rising Canadian Dollar
[Satellite Today – 5-13-08] MacDonald, Dettwiler and Associates Ltd. (MDA) posted a 5.2 percent decrease in revenues for the first quarter of 2008 but earnings jumped 23 percent, the company announced May 13.
MDA reported 290.4 million Canadian dollars ($293.4 million) in revenues for the quarter, down from 306.2 million Canadian dollars ($309.4 million) in the first quarter of 2007. Results for the current quarter were impacted by the appreciation of the Canadian dollar, MDA said. Consolidated revenues would have been 316 million Canadian dollars ($319.3 million) if the average foreign exchange rates had been comparable to the first quarter last year.
Net earnings for the quarter increased to 26.1 million Canadian dollars ($26.4 million) from 21.3 million Canadian dollars ($21.5 million) in 2007.