VANCOUVER – Space technology company MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) has reported a big increase in both fourth-quarter revenue and earnings.
The company, best known for the robotic arms used on the International Space Station, said net earnings in the three months ended Dec. 31 were $25 million or 70 cents per share.
That was up from $11 million or 35 cents per share in the same 2012 period.
Revenue rose almost 28 per cent to $476.7 million from $372.6 million.
Operating earnings for the quarter were $48.3 million or $1.34 per share, up from $39 million or $1.22 per share.
For the full year 2013, MDA reported net earnings of $105 million or $3 per share on revenue of $1.8 billion, up from $83.9 million or $2.63 per share on $879.9 million of revenue in 2012.
Besides space hardware, MDA, with more than 4,800 employees operating from 11 offices in the United States, Canada, and internationally, also provides satellite data and surveillance information and technology to commercial and government organizations worldwide.