Technology  February 26, 2015

Longmont-based DigitalGlobe swings to profit in 2014

LONGMONT – Satellite-imagery provider DigitalGlobe Inc. (NYSE: DGI) swung to profit in 2014, reporting full-year net income of $13.9 million, or 18 cents per share.

Most of that profit, $10.7 million, came during a strong fourth quarter as the Longmont-based company begins cashing in revenue related to the launch of its new WorldView-3 satellite launched in August.

Revenue for 2014 climbed 6.8 percent to $654.6 million, with the company projecting even bigger 11 to 15 percent gains in that department for 2015.

SPONSORED CONTENT

Ways to thank a caregiver

If you have a caregiver or know someone who has been serving as a primary caregiver, March 3rd is the day to reach out and show them how much they are valued!

The DigitalGlobe earnings report came after markets closed Thursday. The company’s stock, rising and falling over the past 12 months between $23.85 and $34.61, declined 1 percent from Wednesday’s close to $28.45. But shares had risen more than 2 percent in after-hours trading within 40 minutes of the earnings report.

“2014 was a milestone year for DigitalGlobe, as we marked our transition from a period of investment in building the world’s leading Earth observation capability to a new era of growth, margin expansion, free cash flow and improving returns,” CEO Jeffrey Tarr said in the earnings release. “In 2015, we will accelerate growth through increased capacity and new product offerings that leverage our data, analytics and unique geospatial information capabilities.”

DigitalGlobe reported revenue of $185.7 million for the fourth quarter, up from $169.7 million the year before. U.S. Government revenue in the period rose 17.8 percent to $114.4 million. Diversified Commercial revenue, meanwhile, decreased 1.8 percent to $71.3 million, the company said, due to a $5.8 million year-over-year decline in Russia.

On Wednesday, the company announced that it was opening up its 30-centimeter resolution imagery made possible by WorldView-3 to all customers. Until getting permission from the U.S. Commerce Department last year, the highest-resolution the company was allowed to sell to most commercial customers was 50-centimeter resolution.

LONGMONT – Satellite-imagery provider DigitalGlobe Inc. (NYSE: DGI) swung to profit in 2014, reporting full-year net income of $13.9 million, or 18 cents per share.

Most of that profit, $10.7 million, came during a strong fourth quarter as the Longmont-based company begins cashing in revenue related to the launch of its new WorldView-3 satellite launched in August.

Revenue for 2014 climbed 6.8 percent to $654.6 million, with the company projecting even bigger 11 to 15 percent gains in that department for 2015.

The DigitalGlobe earnings report came after markets closed Thursday. The company’s stock, rising and falling…

Sign up for BizWest Daily Alerts