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MDA profit drops on lower demand for data products Add to ...

Real estate data and space technology company MacDonald Dettwiler and Associates Ltd. posted a lower first-quarter profit Tuesday as reduced market activity hurt demand for its information products.

MDA said it earned $24.4-million, or 60 cents a share, in the three months ended March 31. That was down from a profit of $26.1-million, or 64 cents a share, a year earlier.

Excluding items, the company posted earnings of 58 cents a share, down from 61 cents a share.

Revenue fell to $272-million from $290.4-million.

In 2008, the planned $1.33-billion sale of MDA's space robotics and satellite technology business to U.S. rocket-maker Alliant Techsystems Inc. was blocked by the Canadian government.

Ottawa halted the deal in part because it feared it might lose control over top-secret satellite images. It was the first time Canada had prevented the sale of a domestic company to a foreign buyer.

 

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