DigitalGlobe posts big gains in profit, revenue

WESTMINSTER — Satellite-imagery provider DigitalGlobe Inc. (NYSE: DGI) saw second-quarter profit nearly double and revenue climb 12.8 percent versus the same period a year ago.

DigitalGlobe — which BizWest reported on Wednesday has completed the move of its headquarters from Longmont to Westminster — reported financial results for the three-month period ending June 30 on Thursday. The company posted net income available to common stockholders of $6.7 million, or 9 cents per share, up from $3.9 million, or 5 cents per share a year ago.

Revenue increased from $157.8 million in the second quarter of last year to $178 million this year.

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Much of the sales gain came from U.S. government contracts, where the company saw revenue climb 18.4 percent to $113.1 million. But commercial revenue still grew 4.2 percent to $64.9 million.

DigitalGlobe shares, which had closed at $24.76 Wednesday, climbed 5 percent in after-hours trading to $26 upon release of the earnings report.

The company reiterated its outlook for 2015, projecting revenue for the year of between $725 million and $750 million. And adjusted earnings before interest, taxes, depreciation and amortization of between $355 million and $375 million.

“While top-line growth may be somewhat moderated in the second half relative to our original expectations, we still expect revenue to grow at a double-digit rate driven by new capacity, new products and new customers,” DigitalGlobe CEO Jeffrey Tarr said in a prepared statement.