Richmond's Macdonald, Dettwiler and Associates Ltd. (TSX:MDA) reported a 13% increase in quarterly net profit for the period ending September 30 despite enjoying only slight gains in quarterly revenue.
Third-quarter profit rose to $23.5 million from $20.8 million on higher gross earnings of $37.1 million compared with $34.6 million in the same quarter a year ago.
At $292 million, revenue was up slightly from $290.2 million. The bulk of that revenue came from MDA's information products division, which includes a U.K. component that services Britain's National Land Information database.
MDA's information products revenue rose 9% to $214 million from $196 million in 2006's third quarter. The increase was driven by an 18% increase in revenue from its U.K. products division.
Its information systems division, which includes MDA's aviation and space-related projects, suffered a 17% drop in revenue for the quarter due in large part to program delays.
MDA's share price range during the past week: between $40 and $43.72; 52-week high: $53.82; 52-week low: $37.38.