Q: Hi: I have a question. I have held shares of MacDonald Dettwiler for many years. Over the long term I’ve done quite well with them, but the stock is only about 1% of my portfolio. It’s also not a recommendation of TSI. My question is related to the company’s recent acquisition. It seems like a significant purchase, compared to all of MacDonald Dettwiler’s corporate metrics. How is the company funding this deal? How much risk does that add? Thanks for the advice.
A: MacDonald Dettwiler and Associates, $71.31, symbol MDA on Toronto (Shares outstanding: 36.3 million; Market cap: $2.6 billion; www.mdacorporation.com), offers satellite space to a range of service providers, including television and radio broadcasters, and broadband Internet and mobile communications companies.
The company is also a leading supplier of communication satellites and satellite-antenna subsystems, including related ground infrastructure and support services. Its main customers in this area are makers and operators of communication satellites and government agencies worldwide.
In the three months ended June 30, 2017, MacDonald Dettwiler’s revenue rose slightly, to $503.7 million from $502.5 million a year earlier. Sales were higher in the surveillance and intelligence segment; that was due to more contracts with the U.S. government, and other customers, to supply spacecraft for scientific research and development missions. That also offset a drop in the number of satellite-building contracts. Earnings rose 2.0%, to $25.8 million, or $0.71 a share, from $25.3 million, or $0.70 a share.
MacDonald Dettwiler holds cash of…
Privacy Policy and Terms of Use
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