BRAMPTON, Ont. — MDA Ltd. reported a fourth-quarter profit of $600,000 compared with a loss of $12.6 million in the last three months of 2020 as its revenue rose 15 per cent.
The satellite and space technology company said the profit amounted to less than a penny per diluted share for the quarter ended Dec. 31, compared with a loss of 16 cents per diluted share a year earlier.
Revenue totalled $115.5 million, up from $100.2 million in the fourth quarter of 2020.
Excluding the impact of the Canadian Emergency Wage Subsidy program, MDA says its adjusted earnings before interest, taxes, depreciation and amortization for the quarter totalled $26.0 million, up from $21.7 million a year earlier.
The company's backlog stood at $864.3 million at Dec. 31, up from $562.5 million at the end of 2020.
Earlier this month, MDA announced it won a $269-million contract from the Canadian Space Agency for the next phase of the Canadarm 3 program that will see the company complete the preliminary design of the robotics system.
This report by The Canadian Press was first published March 17, 2022.
Companies in this story: (TSX:MDA)
The Canadian Press
