Engineers work near satellites inside the MDA facility in Montreal in June, 2018.Ryan Remiorz/The Canadian Press
MDA Space Ltd. MDA-T reported a fourth-quarter profit of $24-million as its revenue rose 44 per cent compared with a year earlier, boosted by its satellite business.
The company says its profit amounted to 18 cents per diluted share for the quarter ended Dec. 31, down from a profit of $25.1-million or 20 cents per diluted share in the fourth quarter of 2024.
On an adjusted basis, MDA Space says it earned 45 cents per diluted share in its latest quarter, up from an adjusted profit of 28 cents per diluted share a year earlier.
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Revenue for the quarter totalled $499.1-million, up from $346.6-million in the last three months of 2024.
The overall increase came as MDA Space says geointelligence revenue totalled $62-million in its latest quarter, up from $47.4-million, while robotics and space operations revenue amounted to $65.7-million, up from $64.7-million. Satellite systems revenue totalled $371.4-million, up from $234.5-million a year earlier.
The company’s backlog stood at $4.01-billion at Dec. 31, down from $4.39-billion a year earlier.