WESTMINSTER, Colo. — DigitalGlobe
, Inc. (NYSE: DGI), a leading global provider of commercial high-resolution earth observation and advanced geospatial solutions, today reported financial results for the quarter ended March 31, 2016.
First Quarter Financial Summary:
- Grew Revenue 3.5% to $175.4 million.
- Net income available to common stockholders was $7.3 million, or $0.11 per diluted share.
- Increased Adjusted EBITDA 30.5% to $95.4 million.
- Expanded Adjusted EBITDA margin 1,124 bps to 54.4%.
- Increased Net cash flows from operations 1.2% to $57.6 million.
- Free cash flow was $17.8 million.
- Announced the signing of a new DAP customer to a letter of intent for multi-year access to WorldView-4 and the current constellation.
- Announced an agreement to convert an existing letter of intent into a definitive agreement with an existing DAP customer.
- Repurchased 4,116,271 shares of its common stock for $60.9 million at an average price of $14.80 per share.
“We got off to a good start to the year with revenue growth and margin expansion that exceeded our expectations, driven by strength in our DAP business and continued realization of operating efficiencies,” said Jeffrey R. Tarr, DigitalGlobe CEO. “We remain confident in our full year outlook despite more challenging comparisons in the quarters ahead. Longer term, we are encouraged by the demand we are seeing for WorldView-3 and WorldView-4 from our international defense and intelligence customers.”
Reiterated 2016 Revenue and Adjusted EBITDA Outlook:
- Revenue in a range of $670 million to $700 million.
- Adjusted EBITDA in a range of $330 million to $355 million.
- Capital expenditures of approximately $125 million.(1)
(1) Excludes capitalized interest
Conference Call Information:
DigitalGlobe’s management will host a conference call today, April 27, 2016 at 5 p.m. ET to discuss its 2016 first quarter financial and operating results.
The conference call dial-in numbers are as follows:
U.S./Canada dial-in: (855) 212-2368(855) 212-2368 FREE
International dial-in: (315) 625-6886(315) 625-6886 FREE
A replay of the call will be available through May 27, 2016 at the following numbers:
U.S./Canada dial-in: (855) 859-2056(855) 859-2056 FREE
International dial-in: (404) 537-3406(404) 537-3406 FREE
DigitalGlobe will also sponsor a live and archived webcast of the conference call on the Investor Relations portion of its website. Click here
to directly access the live webcast.
Supplemental earnings materials, including conference call slides and management scripts, are available on the Investor Relations section of the company’s website at www.digitalglobe.com
DigitalGlobe is a leading global provider of high-resolution Earth-imagery products and services sourced from our own advanced satellite constellation and third-party providers. Our imagery solutions support a wide variety of users in defense and intelligence, civil agencies, mapping and analysis, environmental monitoring, oil and gas exploration, infrastructure management, Internet portals, and navigation technology. Each day users depend on us to better understand our changing planet in order to save lives, resources and time.