For immediate release: March 26, 2008
MDA Reports Final Fourth Quarter and Full Year 2007 Results
Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, today reported audited financial results for the year ended December 31, 2007. These financial results have not changed from the preliminary financial information announced February 26, 2008.
For the three months ended December 31, 2007, consolidated revenues increased to $294 million from $288 million for the same period last year. Net earnings increased to $30 million, or $0.70 per diluted share, compared to $22 million, or $0.51 per diluted share, for the fourth quarter a year ago.
For the year ended December 31, 2007, consolidated revenues increased to $1,204 million from $1,053 million for the prior year. Net earnings increased to $95 million, or $2.18 per diluted share, compared to $84 million, or $1.95 per diluted share, for the year ended December 31, 2006.
| | Three months ended December 31, | Twelve months ended December 31, | | | 2007 | 2006 | 2007 | 2006 | | | | | | | | | | ($ thousands, except per common share amounts) | | Consolidated revenues | $ 294,143 | $ 287,675 | $ 1,204,239 | $ 1,052,506 | | | Earnings before income taxes | 42,039 | 30,695 | 129,560 | 117,246 | | Net earnings | 30,270 | 22,145 | 94,967 | 83,596 | | Net earnings per diluted common share | $ 0.70 | $ 0.51 | $ 2.18 | $ 1.95 |
| All results are reported in Canadian dollars and are prepared in accordance with Canadian generally accepted accounting principles.
About MDA
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 3,000 people in locations across the United States, the United Kingdom, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
Related Websites:
www.mdacorporation.com
Forward-Looking Statements
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect MDA's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
For more information, please contact:
Wendy Keyzer
MDA External Relations
Telephone: 604-231-2743
E-mail: wendy@mdacorporation.com
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