digitalglobe inc (DGI) Key Developments
DigitalGlobe, Inc. Announces Executive Changes
May 18 15
On May 12, 2015, Nathan M. Troup notified the company of his resignation as Vice President, Chief Accounting Officer and Controller (principal accounting officer) of the company, with an anticipated effective date of June 8, 2015, in order to pursue another opportunity. Gary W. Ferrera, the company's Executive Vice President and Chief Financial Officer has assumed the responsibilities of principal accounting officer of the company. Mr. Ferrera, age 52, has served as the company's Executive Vice President and Chief Financial Officer since March 2015.
Exelis and DigitalGlobe, Inc. to Provide Cloud-Based ENVI Earth Science Analytics for DigitalGlobe Geospatial Big Data Platform
May 6 15
Exelis and DigitalGlobe, Inc. have agreed to provide a new commercial offering of cloud-based ENVI earth science analytics for the DigitalGlobe Geospatial Big Data (GBD) platform. The agreement will enable all imagery users and customers of Exelis and DigitalGlobe to easily combine powerful ENVI geospatial analytics with the vast DigitalGlobe image library to solve challenging environmental, natural resource, and global security problems. ENVI software helps users make better decisions regarding mineral exploration, precision agriculture, environmental degradation, national defense. DigitalGlobe’s cloud-based GBD offering is a PaaS (Platform as a Service) model designed to create a new ecosystem in which partners and developers can leverage their expertise and an application programming interface, or API, to create new customer solutions at a global scale.
DigitalGlobe, Inc. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reiterates Earnings Guidance for the Year 2015 and Provides Earnings Guidance for the Second Half of 2015
Apr 30 15
DigitalGlobe, Inc. announced consolidated earnings results for the first quarter ended March 31, 2015. Revenue for the first quarter of 2015 was $169.4 million, up 8% year-over-year. U.S. government revenue in the quarter was a record $114.8 million, up 18% year-over-year, driven primarily by $84.3 million in revenue from EnhancedView Service Level Agreement or SLA. U.S. government value-added services revenue was $26.7 million in the quarter, down 22% compared with $34.4 million in first quarter of last year. Loss before income taxes was $9.1 million compared to income of $4.2 million a year ago. Net loss was $4.9 million or $0.08 basic and diluted loss per share compared to income of $0.4 million or $0.01 basic and diluted loss per share a year ago. EBITDA was $70.9 million compared to $61.8 million a year ago. Adjusted EBITDA was $73.1 million compared to $67.9 million a year ago. Income from operations was $3.6 million against $4.1 million a year ago. Net cash flows provided by operating activities was $56.9 million compared to $39.9 million a year ago. Property and equipment additions were $1.2 million against $2.2 million a year ago. These achievements are a reflection of early progress on 4 strategic focus areas year-to-date. Capex spending, excluding cash capitalized interest, was $19.8 million in the quarter.
The company reiterated earnings guidance for the full year 2015. For the period, the company expected revenue in the range of $725 million to $750 million, adjusted EBITDA in a range of $355 million to $375 million and capital expenditures of approximately $110 million. The company continues to expect free cash flow as a percentage of revenue to be approximately 20% for the full year.
The company expects revenue and EBITDA to be weighted more heavily to the second half of 2015, with a bias towards the fourth quarter.
DigitalGlobe, Inc. Announces General Availability of Basemap +Vivid Product for the Entire African Continent
Apr 28 15
DigitalGlobe, Inc. announced the general availability of its Basemap +Vivid product for the entire African continent. Keeping pace with the rapid evolution of mapping technology, this is the first time that a complete, consistent satellite imagery base layer with 50 cm ground resolution has been available for Africa. Many parts of Africa have never been mapped at this resolution from space, and never before has there been a complete imagery base map of Africa with this level of detail. While 50 cm satellite imagery for Africa has been available since 2008, it previously only covered smaller areas of interest. To meet the rapidly growing needs of customers, DigitalGlobe purposed satellite constellation to cover every country in Africa so could build and produce this unique offering for some of the most rapidly growing economies in the world. While businesses and governments have been leveraging satellite imagery for years, many applications have been hampered by lower resolution imagery or incomplete coverage over certain areas. Now with Basemap +Vivid, DigitalGlobe can deliver a beautiful, consistent, complete, geospatial-ready view of Africa.
DigitalGlobe, Inc. to Report Q1, 2015 Results on Apr 30, 2015
Apr 16 15
DigitalGlobe, Inc. announced that they will report Q1, 2015 results at 5:00 PM, US Eastern Standard Time on Apr 30, 2015