MDA Space Ltd. MDA-T reported its fourth-quarter profit rose compared with a year ago as its revenue also climbed higher, helped by strong contributions from its satellite systems business.
The company says it earned $25.1-million or 20 cents per diluted share in its quarter ended Dec. 31.
The result compared with a profit of $13.5-million or 11 cents per diluted share in the last three months of 2023.
Revenue for the quarter totalled $346.6-million, up from $205.0-million a year earlier.
On an adjusted basis, MDA says it earned 28 cents per diluted share in its latest quarter, up from an adjusted profit of 23 cents per diluted share a year earlier.
The company’s backlog stood at $4.4-billion at the end of 2024, up from $3.1-billion at the end of 2023.