This was indeed a SOLID quarter... listening to the webcast Mda could make an announcement anytime and return some cash to the shareholders by the next quarter.
RICHMOND, BC, May 3 /CNW/ - MacDonald, Dettwiler and Associates Ltd. (Toronto:MDA.TO), a provider of essential information solutions, today reported financial results for the quarter ended March 31, 2011.
The Company continued to achieve solid results. For continuing operations, operating earnings(1) increased to $27 million (
.65 per share) on revenues of $206 million. This is compared to operating earnings of $23 million (
.56 per share) and revenues of $152 million for the first quarter of last year. Net earnings per share for continuing operations were
.69, up from
.47 for the same period a year ago.
The Company completed the sale of its property information business on January 4, 2011. Results for the property information business have been reclassified as discontinued operations for all periods presented. Under IFRS, the sale resulted in an after-tax gain of $56 million, or $1.37 per share, in the first quarter of 2011.
Order backlog at March 31, 2011 was $877 million (December 31, 2010 - $998 million).
Financial Highlights ------------------------------------------------------------------------- Three months Three months ended ended ($ millions, except earnings per diluted March 31, March 31, common share amounts) 2011 2010 ------------------------------------------------------------------------- From continuing operations -------------------------- Revenues 206.5 152.3 Operating earnings(1) 26.8 23.0 Operating earnings per share(1), diluted 0.65 0.56 Net earnings Continuing operations 28.2 19.1 Gain on sale of discontinued operations 56.2 - Discontinued operations - 9.0 Total 84.4 28.1 Net earnings per share, diluted Continuing operations 0.69 0.47 Gain on sale of discontinued operations 1.37 - Discontinued operations - 0.22 Total 2.05 0.69 Weighted average number of common shares outstanding: (millions) Basic 41.1 40.7 Diluted 41.2 40.9 ------------------------------------------------------------------------- ------------------------------------------------------------------------- (1) See section "Non-IFRS Financial Measures" in this earnings release.
MDA's unaudited consolidated financial statements and management's discussion and analysis for the three months ended March 31, 2011 are available at:
https://www.mdacorporation.com/corporate/investor/financial_reports.cfm