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[Satellite TODAY 11-01-11] Canadian space and satellite technology company MacDonald, Dettwiler and Associates (MDA) is working on a legal restructuring of its U.S. operations to gain better access to classified U.S. government contracts, MDA President and CEO Daniel Friedmann announced in his company’s latest financial results issued Oct. 31.
MDA saw third quarter revenues increase from $167 million in the same period last year to $182 million in 2011. Operating earnings were up from $23 million in the third quarter of 2010 to $30 million. The company’s funded order backlog was $856 million as of Sept. 30, compared with $833 million at the end of June 2011.
Friedmann said MDA’s third-quarter booking activity was robust due to strength from U.S. operations and medical robotics and that its total backlog did not include a substantial build phase award it received for the Radarsat Constellation Mission. “We continued to make good progress on the Express AM5/AM6 program and work on the Ukraine satellite solution program ramped up. The geospatial services operations continued to grow, driven by higher demand from U.S. government agencies,” said Friedmann.
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