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DigitalGlobe Reports Fourth Quarter and Full Year 2012 Results

DigitalGlobe Reports Fourth Quarter and Full Year 2012 Results 
Revenue Up 28% 
Next Twelve-Month Revenue Backlog Up 37% 
EPS of 36 Cents Up From Year-Ago Loss 
LONGMONT, CO -- (Marketwire) -- 02/26/13 --  DigitalGlobe, Inc.
(NYSE: DGI), a leading global provider of high-resolution earth
imagery solutions, today reported financial results for the fourth
quarter and full year ended December 31, 2012. 
Fourth quarter 2012 revenue was $125.4 million, a 28% increase
compared with the same period last year. Net income for the fourth
quarter was $17.1 million, or $0.36 per diluted share, compared with
a net loss of $27.0 million or $(0.58) per diluted share in fourth
quarter 2011. Fourth quarter 2012 EBITDA was $57.6 million, driving
an EBITDA margin of 45.9%. Fourth quarter 2012 EBITDA margin expanded
year-over-year despite incurring $10.2 million in one-time expenses
related to the combination with GeoEye, which negatively impacted
fourth quarter 2012 EBITDA margin by approximately 810 basis points. 
Full year 2012 revenue was $421.4 million, a 24% increase compared
with 2011. The company reported net income of $39.0 million, or $0.84
per share, compared with a net loss of $28.1 million, or $(0.61) per
share in 2011. Note that reported fourth quarter and full-year 2012
results reflect fully diluted share counts of 47.0 million and 46.4
million, respectively. Full-year EBITDA was $189.6 million, yielding
an EBITDA margin of 45.0% compared with a full-year 2011 EBITDA
margin of 27.3%, or 42.6% not including the impact of a $51.8 million
pre-tax loss related to the early extinguishment of debt. Full-year
2012 EBITDA margin expanded year over year in spite of incurring
$19.9 million in one-time expenses related to the combination with
GeoEye, which negatively impacted full-year 2012 EBITDA margin by
approximately 470 basis points. 
The company closed its combination with GeoEye on Jan. 31, 2013.
According to the terms of the transaction, GeoEye common stockholders
received approximately 26.0 million shares of DigitalGlobe common
stock and cash consideration of approximately $93.8 million.
DigitalGlobe common shares outstanding as of February 21, 2013 total
approximately 73.7 million. 
"This was an extraordinary year and quarter for DigitalGlobe," said
Jeffrey R. 
Tarr, President and Chief Executive Officer. "We drove
strong, profitable double-digit revenue growth across all customer
categories, generated positive free cash flow, and grew our next
12-month revenue backlog by 37 percent. We also entered into a
transformational agreement to combine with GeoEye. As a result of
this combination, we are a more diversified, less capital intensive
geospatial information business with a more complete set of
capabilities to serve customers and fuel our growth." 
Recent Business Highlights 


 
--  Fourth quarter 2012 Defense & Intelligence segment revenue grew
    29% to $90.3 million compared with fourth quarter 2011. Performance
    was driven by increased revenue related to the service level agreement
    (SLA) portion of the EnhancedView contract with the National
    Geospatial-Intelligence Agency (NGA), and growth in value-added
    services of 64% to $12.3 million.
--  Commercial segment revenue grew 27% to $35.1 million in the quarter
    compared with fourth quarter 2011. Growth continues to be strong among
    International Civil Governments, providers of Location-based Services
    and Other Industry Verticals.
--  The company continued to expand its footprint among International
    Civil Government customers, growing revenue from this customer group
    at double-digit rates driven primarily by new, renewed and upsized
    agreements with key customers in emerging growth markets.
--  Effective January 1, 2013, the company signed an existing
    Location-Based Services customer to a new, larger, multi-year
    agreement through delivery of its Global Basemap product that takes
    advantage of the company's ImageLibrary, which contains more than 2.8
    billion square kilometers, equivalent to 24 times the earth's
    landmass.
--  Among customers in Other Industry Verticals, the company signed a new
    agreement with a leading global provider of information services,
    building on DigitalGlobe's monitoring and analysis capabilities for
    extractive industries such as mining and oil & gas. DigitalGlobe
    also expanded its relationship with a large humanitarian relief
    organization to provide FirstLook monitoring services and imagery for
    monitoring humanitarian crises and human rights violations.
--  The company's next 12-month backlog increased to $419.5 million, up
    37% year over year, driven by continued growth across the customer
    base and demonstrating the company's continued success in building
    improved revenue visibility from recurring customer relationships.

  
2013 Outlook
 For 2013, the company expects to report revenue in a
range of $635 million to $660 million, which includes the revenue
contribution from GeoEye beginning on February 1, 2013. This 2013
revenue outlook is compared with 2012 pro forma revenue of
approximately $600 million for the combined company, which included a
full 12-month contribution from GeoEye in 2012. Not included in this
pro forma calculation is revenue that GeoEye reported in 2012 related
to its EnhancedView SLA with the NGA, including the non-cash
amortization for payments received in connection with its NextView
contract with the NGA. The company expects to achieve a full-year
EBITDA margin of approximately 36%, not including the impact of
approximately $90 million of combination-related expenses to
integrate with GeoEye. The company also expects 2013 capital
expenditures of approximately $230 million, including spending to
complete, but not launch, the GeoEye-2 satellite in 2013, continued
work on the WorldView-3 satellite, and maintenance. 
Conference Call Information
 DigitalGlobe's management will host a
conference call today, February 26, 2013 at 5 p.m. ET to discuss its
2012 fourth quarter and full-year financial and operating results.  
The conference call dial-in numbers are as follows: 
 U.S./Canada
dial-in: (866) 863-0053
 International dial-in: (706) 758-7563 
Passcode: 97601226 
A replay of the call will be available through March 27, 2013 at the
following numbers:
 U.S./Canada dial-in: (855) 859-2056 
International dial-in: (404) 537-3406
 Passcode: 97601226 
DigitalGlobe will also sponsor a live and archived webcast of the
conference call on the Investor Relations portion of its website.
Click here to directly access the live webcast.  
Supplemental earnings materials are available on the Investor
Relations section of the company's website at www.digitalglobe.com.  
About DigitalGlobe
 DigitalGlobe is a leading provider of commercial
high-resolution earth observation and advanced geospatial solutions
that help decision makers better understand our changing planet in
order to save lives, resources and time. Sourced from the world's
leading constellation, our imagery solutions deliver unmatched
coverage and capacity to meet our customers' most demanding mission
requirements. Each day customers in defense and intelligence, public
safety, civil agencies, map making and analysis, environmental
monitoring, oil and gas exploration, infrastructure management,
navigation technology, and providers of location-based services
depend on DigitalGlobe data, information, technology and expertise to
gain actionable insight.  
In January 2013, DigitalGlobe and 
GeoEye combined to become one
DigitalGlobe, creating a company capable of providing greater value
to customers through an integrated constellation and a broader set of
products and services. For more information on the combination and
its benefits, visit www.digitalglobe.com/combination. 
DigitalGlobe is a registered trademark of DigitalGlobe. 
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS 
This document may contain or incorporate forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995, as amended. Forward-looking statements relate to future events
or future financial performance and generally can be identified by
the use of terminology such as "may," "will," "should," "expects,"
"plans," "anticipates," "could," "intends," "target," "projects,"
"contemplates," "believes," "estimates," "predicts," "potential,"
"continue" or "looks forward to" or the negative of these terms or
other similar words, although not all forward-looking statements
contain these words.  
Any forward-looking statements are based upon our historical
performance and on our current plans, estimates and expectations. The
inclusion of this forward-looking information should not be regarded
as a representation by us that the future plans, estimates or
expectations will be achieved. Such forward-looking statements are
subject to various risks and uncertainties and assumptions. A numbe
r
of important factors could cause our actual results or performance to
differ materially from those indicated by such forward looking
statements, including: the loss, reduction or change in terms of any
of our primary contracts; the availability of government funding for
our products and services both domestically and internationally;
changes in government and customer priorities and requirements
(including cost-cutting initiatives, the potential deferral of
awards, terminations or reduction of expenditures to respond to the
priorities of congress and the administration, or budgetary cuts
resulting from congressional committee recommendations or automatic
sequestration under the Budget Control Act of 2011); the risk that
the anticipated benefits and synergies from the strategic combination
of the Company and GeoEye, Inc. cannot be fully realized or may take
longer to realize than expected; adjustments to the fair value of
certain of the Company's assets and liabilities, including estimates
made in connection with the strategic combination of the Company and
GeoEye, Inc.; the outcome of pending or threatened litigation; the
loss or impairment of our satellites; delays in the construction and
launch of any of our satellites; delays in implementation of planned
ground system and infrastructure enhancements; loss or damage to the
content contained in our imagery archives; interruption or failure of
our ground system and other infrastructure, decrease in demand for
our imagery products and services; increased competition that may
reduce our market share or cause us to lower our prices; our failure
to obtain or maintain required regulatory approvals and licenses;
changes in U.S. foreign law or regulation that may limit our ability
to distribute our imagery products and services; the costs associated
with being a public company and other important factors, all as
described more fully in our filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K.  
We undertake no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which the statement
is made or to reflect the occurrence of unanticipated events. Readers
are cautioned not to place undue reliance on any of these
forward-looking statements. 
Non-U.S. GAAP Financial Measures 
EBITDA and Adjusted EBITDA are not recognized terms under generally
accepted accounting principles ("U.S. GAAP") and may not be defined
similarly by other companies. EBITDA and Adjusted EBITDA should not
be considered alternatives to net income as indications of financial
performance or as alternatives to cash flow from operations as
measures of liquidity. There are limitations to using non-U.S. GAAP
financial measures, including the difficulty associated with
comparing companies in different indus
tries that use similar
performance measures whose calculations may differ from ours. 
EBITDA and Adjusted EBITDA are key measures used in internal
operating reports by management and the board of directors to
evaluate the performance of our operations and are also used by
analysts, investment banks and lenders for the same purpose. In 2012,
EBITDA, excluding certain deal costs, is a measure being used as a
key element of the company-wide bonus incentive plan. Prior to 2012,
Adjusted EBITDA as previously defined had been a key element of the
company-wide bonus incentive plan.  
EBITDA is a measure of our current period operating performance,
excluding charges for depreciation related to prior period capital
expenditures and items which are generally non-core in nature.
Adjusted EBITDA is a measure of our current period operating
performance, excluding charges for capital, depreciation related to
prior period capital expenditures and items which are generally
non-core in nature. 
We believe that the elimination of material non-cash, non-operating
items enables a more consistent measurement of period to period
performance of our operations. In addition, we believe that
elimination of these items facilitates comparison of our operating
performance to companies in our industry. We believe that EBITDA and
Adjusted EBITDA measures are particularly important in a capital
intensive industry such as ours, in which our current period
depreciation is not a good indication of our current or future period
capital expenditures. The cost to construct and launch a satellite
and to build the related ground infrastructure may vary greatly from
one satellite to another, depending on the satellite's size, type and
capabilities. For example, our QuickBird satellite, which we are
currently depreciating, cost significantly less than our WorldView-1
and WorldView-2 satellites. Current depreciation expense is not
indicative of the net revenue generating potential of the satellite. 
EBITDA excludes interest income, interest expense and income taxes
because these items are associated with our capitalization and tax
structures. EBITDA also excludes depreciation and amortization
expense because these non-cash expenses reflect the impact of prior
capital expenditure decisions which are not indicative of future
capital expenditure requirements. 
Adjusted EBITDA further adjusts EBITDA to the exclude loss on the
early extinguishment of debt, expenses associated with the GeoEye
combination, loss on derivative instruments and disposal of assets
because these are not related to our primary operations.
Additionally, it excludes the loss from our joint venture as this is
a non-cash, non-core item. Adjusted EBITDA as defined does not
include the same financial components as used in previous definitions
of Adjusted EBITDA in previous filings. We have revised the
definition to exclude certain costs related to our merger with GeoEye
because we believe these do not reflect our on-going operating
activity. Additionally, we have removed adjustments related to
EnhancedView deferred revenue, EnhancedView outstanding invoices not
yet paid by NGA and Amortization of pre-FOC payment related to
NextView. We believe that this revised definition of Adjusted EBITDA
provides better measure of our operating performance. 
We use EBITDA and Adjusted EBITDA in conjunction with traditional
U.S. GAAP operating performance measures as part of our overall
assessment of our performance and we do not place undue reliance on
measures as our only measures of operating performance. EBITDA and
Adjusted EBITDA should not be considered as substitutes for other
measures of financial performance reported in accordance with U.S.
GAAP. 
FINANCIAL TABLES TO FOLLOW 


 
                                                                            
                                                                            
                             DigitalGlobe, Inc.                             
                                                                            
                 Consolidated Statements of Operations and                  
                        Comprehensive Income (Loss)                         
                                                                            
                                  Three months ended        Year ended      
                                     December 31,          December 31,     
                                 --------------------  -------------------- 
(in millions, except per share                                              
 amounts)                           2012       2011       2012       2011   
                                 ---------  ---------  ---------  --------- 
Net revenue                      $   125.4  $    97.7  $   421.4  $   339.5 
Costs and expenses:                                                         
  Cost of revenue, excluding                                                
   depreciation and amortization      22.1       17.9       81.6       64.9 
  Selling, general and                                                      
   administrative                     45.8       35.0      149.2      130.2 
  Depreciation and amortization       28.1       29.6      114.6      117.1 
                                 ---------  ---------  ---------  --------- 
Income from operations                29.4       15.2       76.0       27.3 
  Loss from early extinguishment                                            
   of debt                               -      (51.8)         -      (51.8)
  Other income (expense), net          0.1          -       (1.0)       0.2 
  Intere
st income (expense), net      (1.4)      (4.0)      (9.1)     (21.7)
                                 ---------  ---------  ---------  --------- 
Income (loss) before income                                                 
 taxes                                28.1      (40.6)      65.9      (46.0)
  Income tax (expense) benefit       (11.0)      13.6      (26.9)      17.9 
                                 ---------  ---------  ---------  --------- 
Net income (loss)                $    17.1  $   (27.0) $    39.0  $   (28.1)
                                 =========  =========  =========  ========= 
Comprehensive income (loss)      $    17.1  $   (27.0) $    39.0  $   (28.1)
                                 =========  =========  =========  ========= 
Earnings (loss) per share:                                                  
  Basic earnings (loss) per                                                 
   share                         $    0.37  $   (0.58) $    0.85  $   (0.61)
                                 =========  =========  =========  ========= 
  Diluted earnings (loss) per                                               
   share                         $    0.36  $   (0.58) $    0.84  $   (0.61)
                                 =========  =========  =========  ========= 
Weighted-average common shares                                              
 outstanding:                                                               
  Basic                               46.3       46.0       46.1       45.9 
                                 =========  =========  =========  ========= 
  Diluted                             47.0       46.0       46.4       45.9 
                                 =========  =========  =========  ========= 
                                                                            
                                                                            
                                                                            

 
                             DigitalGlobe, Inc.                             
                                                                            
        Reconciliation Net Income (loss) EBITDA and Adjusted EBITDA         
                                                                            
                            2012                          2011              
                ---------------------------  ------------------------------ 
(in millions)   Mar 31 Jun 30 Sep 30 Dec 31  Mar 31  Jun 30  Sep 30  Dec 31 
                ------ ------ ------ ------  ------  ------  ------  ------ 
Net income                                                                  
 (loss)         $  3.8 $  9.6 $  8.5 $ 17.1  $ (1.3) $ (0.9) $  1.1  $(27.0)
Depreciation                                                                
 and                                                                        
 amortization     29.1   28.5   28.9   28.1    29.2    29.2    29.1    29.6 
Interest income                                                             
 (expense), net    3.2    2.6    1.9    1.4     7.9     5.7     4.1     4.0 
Income tax                                                                  
 expense                                                                    
 (benefit)         3.1    7.2    5.6   11.0    (1.5)   (1.1)   (1.7)  (13.6)
                ------ ------ ------ ------  ------  ------  ------  ------ 
EBITDA            39.2   47.9   44.9   57.6    34.3    32.9    32.6    (7.0)
Loss from                                                                   
 extinguishment                                                             
 of debt             -      -      -      -       -       -       -    51.8 
Merger costs         -    2.2    7.5   10.2       -       -       -       - 
Other losses                                                                
 (gains)(1)          -    0.4    0.7   (0.1)      -       -    (0.5)      - 
                ------ ------ ------ ------  ------  ------  ------  ------ 
Adjusted EBITDA $ 39.2 $ 50.5 $ 53.1 $ 67.7  $ 34.3  $ 32.9  $ 32.1  $ 44.8 
                ====== ====== ====== ======  ======  ======  ======  ====== 
                                                                            
                                                                            
                                      For the year ended December 31,       
                              ----------------------------------------------
(in millions)                   2012      2011     2010      2009     2008  
                              --------  -------  --------  -------  --------
Net income (loss)             $   39.0  $ (28.1) $    2.5  $  47.4  $   53.8
Depreciation and amortization    114.6    117.1     118.9     74.4      75.7
Interest (income) expense,                                                  
 net                               9.1     21.7      40.4     (0.1)      3.0
Income tax expense (benefit)      26.9    (17.9)      4.3     31.0      38.1
                              --------  -------  --------  -------  --------
EBITDA                           189.6     92.8     166.1    152.7     170.6
Loss from early                                                            
 
 extinguishment of debt              -     51.8         -      7.7         -
Merger costs                      19.9        -         -        -         -
Other losses (gains)(1)            1.0     (0.5)        -      1.8         -
                              --------  -------  --------  -------  --------
Adjusted EBITDA               $  210.5  $ 144.1  $  166.1  $ 162.2  $  170.6
                              ========  =======  ========  =======  ========
                                                                            
1) Other losses (gains) include loss or gain on sale of assets, derivative  
 instruments and joint venture.                                             

 
EBITDA and Adjusted EBITDA are not recognized terms under generally
accepted accounting principles (GAAP), in the United States and may
not be defined similarly by other companies. EBITDA and 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. EBITDA margin is
calculated by dividing EBITDA by GAAP net revenue. Adjusted EBITDA
margin is calculated by dividing Adjusted EBITDA by GAAP net revenue. 


 
                                                                            
                                                                            
                             DigitalGlobe, Inc.                             
                                                                            
                        Consolidated Balance Sheets                         
                                                                            
                                                        As of December 31,  
                                                       -------------------- 
(in millions, except par value)                           2012       2011   
                                                       ---------  --------- 
ASSETS                                                                      
CURRENT ASSETS:                                                             
Cash and cash equivalents                              $   246.2  $   198.5 
Restricted cash                                              3.8        7.7 
Accounts receivable, net of allowance for doubtful                          
 accounts of $2.9 and $3.6, respectively                    67.0       50.7 
Prepaid and current assets                                  18.6       19.6 
Deferred taxes                                              43.9       65.1 
                                                       ---------  --------- 
  Total current assets                                     379.5      341.6 
Property and equipment, net of accumulated                                  
 depreciation of $676.2 and $563.9, respectively         1,115.2    1,019.8 
Goodwill                                                     8.7        8.7 
Aerial image library, net of accumulated amortization                       
 of $33.4 and $25.1, respectively                           16.4       13.0 
Long-term restricted cash                                    8.3        9.8 
Long-term deferred contract costs                           37.3       44.7 
Other assets, net                                           12.1       14.0 
                                                       ---------  --------- 
  Total assets                                         $ 1,577.5  $ 1,451.6 
                                                       =========  ========= 
LIABILITIES AND STOCKHOLDERS' EQUITY                                        
CURRENT LIABILITIES:                                                        
Accounts payable                                       $    10.2  $    19.7 
Current portion of long-term debt                            5.0        5.0 
Other accrued liabilities                                   56.3       37.7 
Current portion of deferred revenue                         42.9       36.6 
                                                       ---------  --------- 
  Total current liabilities                                114.4       99.0 
Deferred revenue                                           386.8      319.3 
Long-term debt, net of discount                            478.6      481.6 
Long-term deferred tax liability, net                       55.6       59.6 
Other liabilities                                            2.7        4.7 
                                                       ---------  --------- 
  Total liabilities                                    $ 1,038.1  $   964.2 
                                                       ---------  --------- 
COMMITMENTS AND CONTINGENCIES                                               
STOCKHOLDERS' EQUITY                                                        
Preferred stock, $0.001 par value; 24.0 shares                              
 authorized; no shares issued and outstanding at                            
 December 31, 2012 and December 31, 2011                       -          - 
Common stock; $0.001 par value; 250.0 shares                                
 authorized; 47.2 shares issued and 47.1 shares                             
 outstanding at December 31, 2012 and 46.4 shares                           
 issued and 46.3 shares outstanding at December 31,                         
 2011                                                        0.2        0.2 
Treasury stock, at cost; 0.1 shares at December 31,                         
 2012 and 0.1 shares at December 31, 2011                   (2.0)      (1.2)
Additional paid-in capital                                 543.8      530.0 
Accumulated deficit                                         (2.6)     (41.6)
                                                       ---------  --------- 
  Total stockholders' equity      
                         539.4      487.4 
                                                       ---------  --------- 
  Total liabilities and stockholders' equity           $ 1,577.5  $ 1,451.6 
                                                       =========  ========= 
                                                                            
                                                                            
                                                                            
                             DigitalGlobe, Inc.                             
                                                                            
                   Consolidated Statements of Cash Flows                    
                                                                            
                                            For the year ended December 31, 
                                            ------------------------------- 
(in millions)                                  2012       2011       2010   
                                            ---------  ---------  --------- 
CASH FLOWS FROM OPERATING ACTIVITIES:                                       
Net income (loss)                           $    39.0  $   (28.1) $     2.5 
Adjustments to reconcile net income to net                                  
 cash provided by operating activities:                                     
  Depreciation and amortization expense         114.6      117.1      118.9 
  Amortization of aerial image library,                                     
   deferred contract costs and lease                                        
   incentive                                     17.9       10.2        8.7 
  Non-cash stock-based compensation expense       9.2       14.4        6.6 
  Non-cash interest expense and other             4.7        3.9        4.4 
  Write-off of debt financing fees                  -       12.0          - 
  Deferred income taxes                          17.2      (18.5)       3.3 
Changes in working capital net and certain                                  
 long-term assets and liabilities:                                          
  Accounts receivable                           (16.3)      (5.4)       4.3 
  Other current and non-current assets          (10.9)     (23.7)     (18.0)
  Accounts payable                                0.9        5.5       (1.8)
  Accrued liabilities                            15.1       (4.2)      14.3 
  Deferred revenue                               73.6       73.6        9.9 
  Fees paid on early redemption of long-                                    
   term debt                                        -      (14.0)         - 
  Other current and non-current liabilities      (0.5)         -        0.2 
                                            ---------  ---------  --------- 
Net cash flows provided by operating                                        
 activities                                     264.5      142.8      153.3 
                                            ---------  ---------  --------- 
CASH FLOWS FROM INVESTING ACTIVITIES:                                       
  Construction in progress additions           (210.7)    (255.6)     (74.1)
  Property, equipment, intangible and other                                 
   additions                                    (10.7)      (6.6)     (10.6)
  Decrease in restricted cash                     5.4        2.7        3.8 
                                            ---------  ---------  --------- 
Net cash flows used in investing activities    (216.0)    (259.5)     (80.9)
                                            ---------  ---------  --------- 
CASH FLOWS FROM FINANCING ACTIVITIES:                                       
  Proceeds from issuance of debt                    -      487.0          - 
  Public offering fees                              -          -       (0.3)
  Repayment of debt                              (5.0)    (341.8)         - 
  Payment of debt issuance cost                     -      (11.1)         - 
  Proceeds from exercise of stock options,                                  
   including windfall taxbenefits                 4.2        1.8       10.2 
                                            ---------  ---------  --------- 
Net cash flows (used in) provided by                                        
 financing activities                            (0.8)     135.9        9.9 
                                            ---------  ---------  --------- 
Net increase in cash and cash equivalents        47.7       19.2       82.3 
Cash and cash equivalents, beginning of                                     
 period                                         198.5      179.3       97.0 
                                            ---------  ---------  --------- 
Cash and cash equivalents, end of period    $   246.2  $   198.5  $   179.3 
                                            =========  =========  ========= 
SUPPLEMENTAL CASH FLOW INFORMATION:                                         
Cash paid for interest, net of capitalized                                  
 amounts of $24.3, $18.6 and $7.7,                                          
 respectively                               $     5.4  $    23.2  $    30.2 
Cash received (paid) for income taxes       $    (1.5) $    (1.7) $     4.2 
NON-CASH INVESTING AND FINANCING                                            
 ACTIVITIES:                                                                
Changes to non-cash property, equipment and                                 
 construction in progress accruals,                                         
 including interest                         $     9.0  $    (0.5) $    16.9 

  
Contacts 
Investor Contact: 
David Banks 
(303) 684-4210 
ir@digitalglobe.com  
Media Contact: 
Robert Keosheyan 
(303) 684-4742 
rkeoshey@digitalglobe.com