MacDonald Dettwiler and Associates (TSX:MDA) had an 11% increase in revenue in 2011 over 2010, according to the company’s 2011 annual report.
The Richmond company, which specializes in satellite communications, saw its revenue drop from $1,039 million in 2010 to $761 million in 2011, but net earnings increased from $131 million in 2010 to $160 in 2011.
Operating earnings increased 17% to $117 million, or $2.99 per share. Net earnings per share were $3.31, compared with $1.45 in 2010.
The company had total assets of $1,503 million in 2010; its assets were down to $765 million in 2011. The company’s long-term debt has been halved, from $202 million in 2010 to $104 million in 2011.
Business in Vancouver yesterday reported that the company has signed a $4.2 million deal to team up with Vancouver-based UrtheCast in its project to stream live Earth video images from space.
