DigitalGlobe Reports Fourth Quarter and Full Year 2010 Results

                                                                            
                                                                            
                           DigitalGlobe, Inc.                               
          Reconciliation of GAAP Net Income to Adjusted EBITDA              
                              (unaudited)                                   
                                                                            
                                                                            
                                     Three months ended      Year ended     
                                        December 31,        December 31,    
                                     ------------------  ------------------ 
(in millions, except per share data)   2009      2010      2009      2010   
------------------------------------ --------  --------  --------  -------- 
Net income                           $   13.8  $    1.3  $   47.4  $    4.1 
Depreciation and amortization            18.2      29.6      74.4     118.9 
Loss on derivative instrument               -         -       1.8         - 
Loss from early extinguishment of                                           
 debt                                       -         -       7.7         - 
Interest expense                            -       9.0      (0.1)     39.6 
Income taxes                              9.0       1.9      31.0       5.4 
Amortization of Pre-FOC payment                                             
 related to NextView                     (6.4)     (6.3)    (25.5)    (25.5)
EnhancedView deferred revenue(1)            -      24.8         -      24.8 
EnhancedView outstanding invoices                                           
 not yet paid by NGA                        -         -         -       8.3 
Stock compensation expense                1.7       2.2       7.2       6.8 
------------------------------------ --------  --------  --------  -------- 
Adjusted EBITDA                      $   36.3  $   62.5  $  143.9  $  182.4 

Adjusted EBITDA is not a recognized term under generally accepted accounting principles, or GAAP, in the United States and may not be defined similarly by other companies. Adjusted EBITDA should not be considered an alternative to net income, as an indication of financial performance, or as an alternative to cash flow from operations as a measure of liquidity. There are limitations to using non-GAAP financial measures, including the difficulty associated with comparing companies that use similar performance measures whose calculations may differ from ours.

(1) Fourth quarter EnhancedView deferred revenue includes $8.3 million invoiced in the third quarter for which cash was received in the fourth quarter.

                                                                            
                                                                                                                                       
                                                        DigitalGlobe,  Inc.                                                            
                                      Condensed  Consolidated  Balance  Sheets                                        
                                                                                                                                                        
                                                                                                                                                        
(in  millions)                                                                                      As  of  December  31,    
                                                                                                              --------------------  
                                                                                                                    2009              2010      
                                                                                                              ---------    ---------  
ASSETS                                                                                                                                            
CURRENT  ASSETS:                                                                                                                          
Cash  and  cash  equivalents                                                            $        97.0    $      179.3  
Restricted  cash                                                                                            7.3                6.7  
Accounts  receivable,  net  of  allowance  for  doubtful                                                    
  accounts  of  $1.2  and  $1.0,  respectively                                        49.7              45.3  
Prepaid  and  current  assets                                                                    12.0              19.4  
Income  taxes  receivable                                                                            3.9                    -  
Deferred  taxes                                                                                              1.7              62.7  
                                                                                                              ---------    ---------  
    Total  current  assets                                                                          171.6            313.4  
Property  and  equipment,  net  of  accumulated                                                                    
  depreciation  of  $361.1  and  $478.2,  respectively                      891.0            879.1  
Goodwill                                                                                                          8.7                8.7  
Intangibles,  net  of  accumulated  amortization  of  $7.2                                                
  and  $8.9,  respectively                                                                            1.8                0.3  
Aerial  image  library,  net  of  accumulated  amortization                                              
  of  $17.1  and  $21.1,  respectively                                                        5.4                1.9  
Long-term  restricted  cash                                                                      16.7              13.6  
Long-term  deferred  contract  costs                                                      36.2              42.1  
Other  assets,  net                                                                                        9.1                7.2  
                                                                                                              ---------    ---------  
    Total  assets                                                                                  $  1,140.5    $  1,266.3  
                                                                                                              =========    =========  
LIABILITIES  AND  STOCKHOLDERS'  EQUITY                                                                                
CURRENT  LIABILITIES:                                                                                                                
Accounts  payable                                                                              $          4.3    $        15.0  
Accrued  interest                                                                                          6.2                6.2  
Other  accrued  liabilities                                                                      17.9              26.3  
Current  portion  of  deferred  revenue                                                  32.8              38.9  
                                                                                                              ---------    ---------  
    Total  current  liabilities                                                                  61.2              86.4  
Long-term  accrued  liability                                                                        -                6.0  
Deferred  revenue                                                                                      239.6            246.2  
Deferred  lease  incentive                                                                          5.4                4.6  
Long-term  debt,  net  of  discount                                                        343.5            346.1  
Long-term  deferred  tax  liability                                                        11.3              76.7  
                                                                                                              ---------    ---------  
    Total  liabilities                                                                        $      661.0    $      766.0  
COMMITMENTS  AND  CONTINGENCIES                                                                                              
STOCKHOLDERS'  EQUITY                                                                                                                
Preferred  stock,  $0.001  par  value;  24,000,000  shares                                                
  authorized;  no  shares  issued  and  outstanding  at                                                        
  December  31,  2009  and  December  31,  2010                                              -                    -  
Common  stock;  $0.001  par  value;  250,000,000  shares                                                    
  authorized;  45,122,593  shares  issued  and  outstanding                                              
  at  December  31,  2009  and  46,073,691  shares  issued  and                                            
  outstanding  at  December  31,  2010                                                        0.2                0.2  
Treasury  stock,  at  cost;  44,039  shares  at  December  31,                                            
  2009  and  December  31,  2010                                                                  (0.7)            (0.7)
Additional  paid-in  capital                                                                  496.0            512.7  
Accumulated  deficit                                                                                (16.0)          (11.9)
                                                                                                              ---------    ---------  
    Total  stockholders'  equity                                                              479.5            500.3  
                                                                                                              ---------    ---------  
    Total  liabilities  and  stockholders'  equity                      $  1,140.5    $  1,266.3  
                                                                                                              ---------    ---------  
                                                                                                                                                        
                                                                                                                                                        
                                                        DigitalGlobe,  Inc.                                                            
                          Condensed  Consolidated  Statements  of  Cash  Flows                                
                                                                                                                                                        
                                                                                                                                                        
(in  millions)                                                              For  the  Year  Ended  December  31,  
                                                                                        -------------------------------  
                                                                                              2008              2009              2010      
-------------------------------------------  ---------    ---------    ---------  
CASH  FLOWS  FROM  OPERATING  ACTIVITIES:                                                                              
Net  income                                                                    $        53.8    $        47.4    $          4.1  
Adjustments  to  reconcile  net  income  to  net                                                                    
  cash  provided  by  operating  activities:                                                                          
    Depreciation  and  amortization  expense                    75.7              74.4            118.9  
    EnhancedView  deferred  revenue                                          -                    -              24.8  
    Recognition  of  pre-FOC  payments                              (25.5)          (25.5)          (25.5)
    Amortization  of  aerial  image  library,                                                                          
      deferred  contract  costs  and  lease                                                                                
      incentive                                                                            1.5                5.3                7.1  
    Non-cash  stock  compensation  expense                          4.2                7.2                6.8  
    Amortization  of  debt  issuance  costs                          0.3                    -                4.4  
    Write  off  of  debt  financing  fees                                    -                5.3                    -  
    Deferred  income  taxes                                                    34.7              33.6                4.4  
Changes  in  working  capital,  net  of                                                                                    
  investing  activities:                                                                                                            
    Accounts  receivable,  net                                              (3.2)            (2.6)              4.3  
    Accounts  receivable  from  related  party                    3.0              (0.3)                  -  
    Income  tax  receivable                                                          -              (3.9)              3.9  
    Aerial  image  library                                                      (2.6)            (6.1)                  -  
    Prepaids  and  other  assets                                              1.9              (6.3)            (3.9)
    Accounts  payable                                                              (1.5)              1.5              (1.8)
    Accounts  payable  and  accrued  liabilities                                                                    
      to  related  parties                                                        (1.1)              3.5                    -  
    Accrued  liabilities                                                          8.1              (5.0)            10.6  
    Deferred  contract  costs  from  related                                                                            
      party                                                                                (10.3)          (15.3)                  -  
    Deferred  contract  costs                                                      -                    -            (14.2)
    Deferred  revenue,  excluding  EnhancedView              (1.9)            28.0              13.4  
    Deferred  revenue  related  party                                    6.5                2.1                    -  
    Deferred  lease  incentive                                                0.8                    -                0.2  
                                                                                        ---------    ---------    ---------  
Net  cash  flows  provided  by  operating                                                                                
  activities                                                                          144.4            143.3            157.5  
                                                                                        ---------    ---------    ---------  
CASH  FLOWS  FROM  INVESTING  ACTIVITIES:                                                                              
    Construction  in  progress  additions                      (131.8)        (155.9)          (78.3)
    Other  property,  equipment  and  intangible                                                                    
      additions                                                                        (10.2)          (10.9)          (10.6)
    Decrease  (increase)  in  restricted  cash                  (0.1)          (21.5)              3.8  
    Settlements  from  derivative  instrument                  (1.4)            (2.8)                  -  
                                                                                        ---------    ---------    ---------  
    Net  cash  flows  used  in  investing                                                                                    
      activities                                                                    (143.5)        (191.1)          (85.1)
                                                                                        ---------    ---------    ---------  
CASH  FLOWS  FROM  FINANCING  ACTIVITIES:                                                                              
    Proceeds  from  issuance  of  debt,  net  of                                                                        
      issuance  costs                                                                38.5            330.9                    -  
    Proceeds  from  initial  public  offering,                                                                        
      net  of  issuance  costs                                                  (2.7)            21.7              (0.3)
    Repayment  of  notes                                                                -          (270.0)                  -  
    Repurchase  of  common  stock                                                -              (0.5)                  -  
    Proceeds  from  exercise  of  stock  options                  1.2                1.9              10.2  
                                                                                        ---------    ---------    ---------  
Net  cash  flows  provided  by  financing                                                                                
  activities                                                                            37.0              84.0                9.9  
                                                                                        ---------    ---------    ---------  
Net  increase  in  cash  and  cash  equivalents                37.9              36.2              82.3  
Cash  and  cash  equivalents,  beginning  of                                                                          
  period                                                                                    22.9              60.8              97.0  
                                                                                        ---------    ---------    ---------  
Cash  and  cash  equivalents,  end  of  period        $        60.8    $        97.0    $      179.3  
                                                                                        ---------    ---------    ---------  
SUPPLEMENTAL  CASH  FLOW  INFORMATION:                                                                                  
Cash  paid  for  interest,  net  of  capitalized                                                                    
  amounts  of  $27.0,  $37.4  and  $7.8,                                                                                    
  respectively                                                              $              -    $              -    $        30.2  
Cash  received  (paid)  for  income  taxes              $        (2.2)  $        (2.4)  $          4.2  
NON-CASH  INVESTING  AND  FINANCING                                                                                        
  ACTIVITIES:                                                                                                                                
Changes  to  non-cash  construction  in                                                                                  
  progress  accruals,  including  interest            $        10.1    $          9.7    $        16.6  
 




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