MDA reports third quarter 2009 results
Summary of consolidated results ------------------------------------------------------------------------- YTD YTD Q3-2009 Q3-2008 Q3-2009 Q3-2008 ------------------------------------------------------------------------- ($ thousands, except per common share amounts) Consolidated revenues 245,600 278,282 763,364 890,164 Net earnings 28,509 242 78,217 39,740 Net earnings per common share, basic 0.70 0.01 1.93 0.99 Net earnings per common share, diluted 0.70 0.01 1.93 0.98 Adjusted net earnings(1) 27,822 20,115 80,168 71,279 Adjusted net earnings per common share, basic 0.69 0.50 1.98 1.77 Adjusted net earnings per common share, diluted 0.68 0.50 1.97 1.75 Weighted average number of common shares outstanding: (thousands) Basic 40,492 40,318 40,454 40,262 Diluted 40,697 40,560 40,605 40,733 Average exchange rates: 1 US dollar to Canadian dollar 1.097 1.042 1.170 1.019 1 British pound to Canadian dollar 1.800 1.967 1.798 1.981 ------------------------------------------------------------------------- (1) Adjusted net earnings and adjusted net earnings per common share are non-GAAP financial measures.
Net earnings per diluted share, adjusted for items affecting comparability as set forth in the table below, increased to 68 cents this quarter from 50 cents for the same period of last year.
Consolidated revenues were
Cash flows from operating activities this quarter increased significantly to
Reconciliation of net earnings to adjusted net earnings ------------------------------------------------------------------------- YTD YTD Q3-2009 Q3-2008 Q3-2009 Q3-2008 ------------------------------------------------------------------------- ($ thousands) Net earnings 28,509 242 78,217 39,740 Items affecting comparability: Stock-based compensation expense (recovery) 4,792 (1,661) 9,827 (787) Fair value loss (gain) on equity forward contracts (5,696) 29,121 (10,914) 38,045 Restructuring expense - 1,278 3,549 1,278 Costs related to terminated divestiture of Information Systems and Geospatial Services businesses - - - 4,934 Tax on items affecting comparability 217 (8,865) (511) (11,931) ------------------------------------------------------------------------- Adjusted net earnings 27,822 20,115 80,168 71,279 ------------------------------------------------------------------------- -------------------------------------------------------------------------
MDA's unaudited consolidated financial statements and management's discussion and analysis for the three and nine months ended
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About MDA
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 3,200 people in locations across the
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Forward-Looking Statements
This earnings release and the associated earnings conference call and webcast contains certain forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. ("MDA") with respect to future events and financial performance. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "anticipate", "plan", "foresee", "believe" or "continue" or the negatives of such terms or variations of them or similar terminology. Any such forward-looking statements are based on MDA's current expectations, estimates, projections and assumptions made in light of its experience and its perception of historical trends. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. You are referred to the risk factors described in MDA's most recent annual Management's Discussion and Analysis, Annual Information Form and other documents on file with the Canadian securities regulatory authorities, available online at www.sedar.com or www.mdacorporation.com. The forward-looking statements and information contained in this earnings release and the associated earnings conference call and webcast represent MDA's views only as of today's date. MDA disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law, rule or regulation. You should not place undue reliance on forward-looking statements.
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For further information: Wendy Keyzer, MDA External Relations, (604) 231-2743, [email protected]
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