MDA experiences $600,000 This autumn revenue, income up 15 per cent from yr in the past

BRAMPTON, Ont. – MDA Ltd. reported a fourth-quarter revenue of $600,000 in contrast with a lack of $12.6 million within the final three months of 2020 as its income rose 15 per cent.

The satellite tv for pc and area know-how firm stated the revenue amounted to lower than a penny per diluted share for the quarter ended Dec. 31, in contrast with a lack of 16 cents per diluted share a yr earlier.

Income totalled $115.5 million, up from $100.2 million within the fourth quarter of 2020.

Excluding the influence of the Canadian Emergency Wage Subsidy program, MDA says its adjusted earnings earlier than curiosity, taxes, depreciation and amortization for the quarter totalled $26.0 million, up from $21.7 million a yr earlier.

The corporateā€™s backlog stood at $864.3 million at Dec. 31, up from $562.5 million on the finish of 2020.

Earlier this month, MDA introduced it received a $269-million contract from the Canadian Area Company for the following section of the Canadarm 3 program that can see the corporate full the preliminary design of the robotics system.

This report by The Canadian Press was first revealed March 17, 2022.

Firms on this story: (TSX:MDA)

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