The Brampton, Ont.-based space-technology company’s revenue fell to $111.3 million in the three-month period ended Sept. 30, compared with $126.7 million in the previous quarter. In a conference call with analysts Friday, CFO Vito Culmone said “the slight dip” is “substantially timing related” and “not unusual” in the business. The company’s shares were down 4.46 per cent at Friday’s close. (The Logic)
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The Brampton, Ont.-based space-technology company’s revenue fell to $111.3 million in the three-month period ended Sept. 30, compared with $126.7 million in the previous quarter. In a conference call with analysts Friday, CFO Vito Culmone said “the slight dip” is “substantially timing related” and “not unusual” in the business. The company’s shares were down 4.46 per cent at Friday’s close. (The Logic)
Talking point: MDA also reported an $829-million revenue backlog, up 30 per cent from the second quarter. This comes amid delays related to Telesat Lightspeed, a program under which MDA was selected to provide critical technology subsystems, that has been hampered by global supply chain disruptions. The company also said on the conference call it is hiring over 600 new employees at the beginning of next year. Meanwhile, MDA announced Thursday it won a contract from the Canadian Space Agency for the first design steps in sending a Canadian rover to the moon.
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