MDA reports fourth-quarter profit and revenue up from year ago

BRAMPTON, Ont. — MDA Ltd. reported a fourth-quarter profit of $13.5 million, up from $8.8 million a year earlier, as its revenue rose 10 per cent.

The robotics and space technology firm says the profit amounted to 11 cents per diluted share for the quarter ended Dec. 31, up from seven cents per diluted share in the last three months of 2022.

Revenue for the three-month period totalled $205.0 million, up from $186.1 million a year earlier.

On an adjusted basis, MDA says it earned 23 cents per diluted share in its latest quarter, up from an adjusted profit of 18 cents per diluted share a year earlier.

In its outlook for 2024, the company says it expects full year revenue to total between $950 million and $1.05 billion, an estimate that would mean growth of about 25 per cent based on the midpoint of the guidance compared with its result for 2023. 

For the first quarter of 2024, MDA says it expects revenue between $205 million and $215 million.

This report by The Canadian Press was first published Feb. 28, 2024.

Companies in this story: (TSX:MDA)

The Canadian Press