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MDA reports second quarter 2010 results

^{Published on 2010-07-29 13:40:55 - Market Wire}
 

 Financial Highlights ------------------------------------------------------------------------- Q2-2010 Q2-2009 YTD-2010 YTD-2009 ------------------------------------------------------------------------- ($ thousands, except per common share amounts) Consolidated revenues 258,350 245,794 504,233 517,764 Operating earnings 34,067 28,752 67,087 52,345 Operating earnings per common share, basic 0.83 0.71 1.64 1.29 Operating earnings per common share, diluted 0.83 0.71 1.64 1.29 Net earnings 27,494 25,286 56,575 49,708 Net earnings per common share, basic 0.67 0.63 1.39 1.23 Net earnings per common share, diluted 0.67 0.62 1.38 1.23 Weighted average number of common shares outstanding: (thousands) Basic 40,889 40,455 40,788 40,435 Diluted 41,025 40,625 40,971 40,560 Average exchange rates: 1 US dollar to Canadian dollar 1.028 1.167 1.034 1.206 1 British pound to Canadian dollar 1.533 1.807 1.579 1.797 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 

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 ------------------------------------------------------------------------- Q2-2010 Q2-2009 YTD-2010 YTD-2009 ------------------------------------------------------------------------- ($ thousands) Operating earnings 34,067 28,752 67,087 52,345 Items affecting comparability: Stock-based compensation (11,177) (1,889) (5,373) (5,035) Fair value adjustments on equity forward contracts 10,341 (697) 458 5,218 Fair value adjustments on foreign exchange forward contracts tied to certain projects not subject to hedge accounting (6,800) - (6,800) - Foreign exchange gain on translation of intercompany balances 2,108 - 2,108 - Fair value adjustments on interest rate swap contracts not subject to hedge accounting 235 - (414) - Restructuring expense (2,884) (2,416) (2,884) (3,549) Tax on items affecting comparability 1,604 1,536 2,393 729 ------------------------------------------------------------------------- Net earnings 27,494 25,286 56,575 49,708 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 

 ------------------------------------------------------------------------- Q2-2010 Q2-2009 YTD-2010 YTD-2009 ------------------------------------------------------------------------- ($ thousands) Adjusted Information Products revenues 117,354 130,339 229,648 255,556 Retroactive application of net revenue recognition to BC OnLine revenues - 6,116 - 25,809 Retroactive application of net revenue recognition to certain contracts for valuation-related solutions in the U.K. - 7,945 670 16,700 ------------------------------------------------------------------------- Information Products revenues 117,354 144,400 230,318 298,065 ------------------------------------------------------------------------- Forward-Looking Statements -------------------------- 

 ---------------------------------- (1) See section "Non-GAAP Financial Measures" in this earnings release.