DigitalGlobe logs 54% revenue gain
Last Updated: 15:55 October 31, 2013
The Longmont-based satellite imaging company, however, posted a third-quarter net loss of $1.8 million and a net loss available to common shareholders of $2.8 million, which included $1 million of preferred stock dividends, or 4 cents per diluted share.
The revenue mark was up from $150.6 million for the second quarter of this year. Included in the quarter’s performance was $11.1 million of restructuring and integration expenses related to last year’s acquisition of GeoEye.
“We built significant momentum in the business during the third quarter – accelerating growth, expanding margins and generating positive free cash flow,” chief executive Jeffrey R. Tarr said in a press release. “I’m proud of our team’s outstanding execution, achieving more than $100 million of synergy savings related to our combination with GeoEye.”
In September, DigitalGlobe announced it would be moving its headquarters from Longmont to Broomfield before changing course in mid-October and deciding on a move to Westminster next summer.
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