• Most Popular
  • Most Shared

UPDATE 1-MDA says preliminary profit rose in fourth quarter

Tue Feb 26, 2008 5:31pm EST

Stocks

   

(Adds details, background)

Stocks  |  Mergers & Acquisitions

TORONTO, Feb 26 (Reuters) - Real estate data provider MacDonald, Dettwiler and Associates Ltd (MDA.TO) reported a preliminary fourth-quarter profit on Tuesday that rose with higher revenue and despite a stronger Canadian dollar.

The company, which is selling its space robotics and data-processing business to U.S.-based Alliant Techsystems Inc (ATK.N) for $1.33 billion, said it earned C$30 million, or 70 Canadian cents per share, in the three months ended Dec. 31. That was up from a profit of C$22 million, or 51 Canadian cents per share, in the same period a year earlier.

Revenue moved higher to C$294 million from C$288 million a year earlier, the Vancouver, British Columbia-based company said.

Analysts expected MDA to earn 54 Canadian cents a share before one-time items on revenue of C$304.7 million.

The company said its audited results will come out on March 26.

Earlier on Tuesday, MDA said it was buying a number of real-estate services assets in the United States from TransUnion LLC for an undisclosed amount.

MDA said the purchase includes tools and technology for collateral valuation, property search, mortgage credit, closing and flood compliance. The acquired businesses have about $130 million in annual revenue and about 450 employees.

MDA released its preliminary results after markets closed. Its shares fell 2 Canadian cents to finish at C$46.88 on the Toronto Stock Exchange on Tuesday.

($1=$0.98 Canadian) (Reporting by Wojtek Dabrowski; Editing by Peter Galloway)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article