Extends QuickBird Useful Life; WorldView-2 Commissioning On Schedule
LONGMONT, Colo. — (BUSINESS WIRE) — November 9, 2009 — DigitalGlobe (NYSE: DGI), a leading global provider of commercial high-resolution earth imagery products and services, today reported financial results for the third quarter ended September 30, 2009.
Third quarter 2009 revenue was $71.8 million, an increase of 8% compared to the same period last year. Third quarter net income was $14.6 million or $0.32 per diluted share as compared to net income of $14.3 million or $0.32 per diluted share for the third quarter 2008.
Third quarter 2009 Adjusted EBITDA, a non-GAAP financial measure, was $43.8 million, compared to third quarter 2008 Adjusted EBITDA of $44.1 million. The definition of Adjusted EBITDA and reconciliation to net income are set forth in this press release.
Separately, the company announced the extension of the estimated useful life of its QuickBird satellite by eighteen months. The satellite will continue to be an important part of DigitalGlobe’s constellation through May 2012.
“We are very pleased with our strong third quarter performance, reflecting continued momentum across our key customer segments,” said Jill Smith, Chairman, and Chief Executive Officer of DigitalGlobe. “We are delighted that the launch of WorldView-2 was successful and commissioning is progressing on plan. We anticipate that imagery from WorldView-2 will be commercially available approximately 90 days following the launch. Based on our results to date and our outlook for the remainder of 2009, we are raising our full year outlook.”
Full Year 2009 Outlook
Based on DigitalGlobe’s results for the first nine months of 2009 and our outlook for the remainder of the year, management is revising its full year outlook. The full year outlook assumes that WorldView-2 is not operational in 2009.
Conference Call Information
DigitalGlobe’s management will host a conference call today at 5:00p.m. ET/ 3:00p.m. MT to discuss its third quarter 2009 financial results.
The conference call dial-in numbers are as follows:
US/Canada dial-in: (866) 921-3936
International dial-in: (706) 679-9623
A replay of the call can be accessed by phone at the following number for 30 days following the call:
US/Canada dial-in: (800) 642-1687
International dial-in: (706) 645-9291
DigitalGlobe will also sponsor a live and archived webcast of the conference call on its website, www.digitalglobe.com.
Longmont, Colorado-based DigitalGlobe (
is a leading global provider of commercial high-resolution earth imagery
products and services. Sourced from our own advanced satellite
constellation, our imagery solutions support a wide variety of uses
within defense and intelligence, civil agencies, mapping and analysis,
environmental monitoring, oil and gas exploration, infrastructure
management, internet portals and navigation technology.