GeoEye Reports Record 2009 Second Quarter Results

               RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA

                                              For the Three     For the Six
                                               Months Ended     Months Ended
                                                 June 30,        June 30,
                                              -------------    -------------
                                                2009   2008     2009    2008
                                                ----   ----     ----    ----
                                               (Unaudited)      (Unaudited)

      Net income (loss)                       $9,552  $(558)  $7,815 $(1,376)
      Adjustments:
        Interest expense, net                  8,618  2,030   14,180   5,758
        Provision for income taxes             5,689  3,636    3,569   6,350
        Depreciation and amortization         15,936  3,196   24,396   6,469
        Non-cash stock-based compensation
         expense                                 657    501    1,029   1,043
                                                 ---    ---    -----   -----
      Adjusted EBITDA                        $40,452 $8,805  $50,989 $18,244
                                             ======= ======  ======= =======

                     CONDENSED CONSOLIDATED BALANCE SHEETS

                                          June 30,    December 31,
                                             2009         2008    Change
                                             ----         ----    ------
                                         (unaudited)

                                 ASSETS

      Current assets:
        Cash and cash equivalents         $47,755      $106,733 $(58,978)
        Short-term investments                  -         3,813   (3,813)
        Accounts receivable -
         trade and unbilled
         receivables (net of
         allowances: 2009 -$1,048;
         2008 -$738)                       52,996        26,851   26,145
        Income tax receivable              16,050        20,142   (4,092)
        Restricted cash                     4,473             -    4,473
        Other current assets               15,293        34,325  (19,032)
                                           ------        ------  -------
          Total current assets            136,567       191,864  (55,297)
      Property, plant and
       equipment, net                      25,956        22,748    3,208
      Satellites and related
       ground systems, net                517,648       488,145   29,503
      Goodwill                                                    34,264                34,264                -
            Intangible  assets,  net                              13,006                14,335      (1,329)
            Restricted  cash                                            15,628                          -      15,628
            Other  non-current  assets                          11,974                12,978      (1,004)
            Deferred  tax  asset                                      30,271                30,271                -
                                                                                      ------                ------            ---
                    Total  assets                                      $785,314            $794,605    $(9,291)
                                                                                  ========            ========    =======
                              LIABILITIES  AND
                          STOCKHOLDERS'  EQUITY

            Current  liabilities:
                Accounts  payable  and
                  accrued  expenses                                  $41,962              $69,763  $(27,801)
                Current  portion  of  deferred
                  revenue                                                      56,264                40,629      15,635
                Current  deferred  tax
                  liability                                                    5,594                  5,594                -
                                                                                        -----                  -----            ---
                    Total  current  liabilities              103,820              115,986    (12,166)
            Long-term  debt                                            247,859              247,502            357
            Long-term  deferred  revenue,
              net  of  current  portion                          191,959              199,317      (7,358)
            Non-current  income  tax
              reserve                                                                688                  1,396          (708)
                                                                                            ---                  -----          ----
                    Total  liabilities                              544,326              564,201    (19,875)
                                                                                    -------              -------    -------
            Commitments  and  contingencies                          -                          -                -
            Stockholders'  equity:
                Preferred  stock                                                  -                          -                -
                Common  stock                                                    186                      184                2
                Additional  paid-in  capital                213,280              210,513        2,767
                Retained  earnings                                    27,522                19,707        7,815
                                                                                      ------                ------        -----
                    Total  stockholders'  equity            240,988              230,404      10,584
                                                                                    -------              -------      ------
                    Total  liabilities  and
                      stockholders'  equity                    $785,314            $794,605    $(9,291)
                                                                                  ========            ========    =======

 





Review Article Be the first to review this article
Harris

Airbus

Featured Video
Jobs
GIS Analyst II for Air Worldwide at Boston, MA
Business Partner Manager for Cityworks - Azteca Systems, LLC at Sandy, UT
Mechanical Engineer for IDEX Corporation at West Jordan,, UT
Senior Structural Engineer for Design Everest at San Francisco, CA
Upcoming Events
RoboUniverse San Diego at San Diego CA - Dec 14 - 15, 2016
DGI 2017 at QEII Centre London United Kingdom - Jan 23 - 25, 2017
Geospatial World Forum 2017 Hyderabad at Hyderabad International Convention Center P.O Bag 1101, Cyberabad Post Office Hyderabad Telangana India - Jan 23 - 25, 2017
Trimble
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy