Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, today reported financial results for its third quarter ended September 30, 2006. Net earnings for the quarter increased 23% to $21 million, or $0.49 per diluted share, compared to $17 million, or $0.41 per diluted share, reported for the same period last year.
Consolidated revenues for the third quarter increased to $290 million, up 38% compared to $209 million reported for the same period a year ago. Information Products revenues increased to $196 million from $124 million for the same period last year, reflecting continued growth in the Company's UK property information businesses. The Company's Information Systems business also performed well, reporting revenues of $94 million for the third quarter of 2006 compared to $86 million for the same period last year.
For the nine months ended September 30, 2006, consolidated revenues increased 22% to $764 million compared to $628 million reported for the same period a year ago. Information Products revenues increased to $478 million and Information Systems revenues increased to $286 million. Net earnings increased 28% to $61 million, or $1.44 per diluted share, compared to $48 million, or $1.19 per diluted share, for the comparable period in 2005.
Three months ended
Nine months ended
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This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. with respect to future events and financial performance. 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. Additional information on these and other potential factors that could affect MDA's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.