MDA reports third quarter 2010 results

Published in Stocks and Investing on Wednesday, October 27th 2010 at 13:41 GMT by Market Wire
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 Financial Highlights ------------------------------------------------------------------------- Q3-2010 Q3-2009 YTD-2010 YTD-2009 ------------------------------------------------------------------------- ($ thousands, except per common share amounts) Consolidated revenues 263,086 245,600 767,319 763,364 Operating earnings 35,626 27,822 102,713 80,168 Operating earnings per common share, basic 0.87 0.69 2.51 1.98 Operating earnings per common share, diluted 0.87 0.68 2.51 1.97 Net earnings 38,318 28,509 94,893 78,217 Net earnings per common share, basic 0.94 0.70 2.32 1.93 Net earnings per common share, diluted 0.93 0.70 2.31 1.93 Weighted average number of common shares outstanding: (thousands) Basic 40,979 40,492 40,852 40,454 Diluted 41,064 40,697 41,001 40,605 Average exchange rates: 1 US dollar to Canadian dollar 1.039 1.097 1.036 1.170 1 British pound to Canadian dollar 1.612 1.800 1.590 1.798 ------------------------------------------------------------------------- -------------------------------------------------------------------------

 ------------------------------------------------------------------------- Q3-2010 Q3-2009 YTD-2010 YTD-2009 ------------------------------------------------------------------------- ($ thousands) Operating earnings 35,626 27,822 102,713 80,168 Items affecting comparability: Stock-based compensation (8,432) (4,792) (13,805) (9,827) Fair value adjustments on equity forward contracts 3,223 5,696 3,681 10,914 Fair value adjustments on foreign exchange forward contracts tied to certain projects not subject to hedge accounting 3,300 - (3,500) - Foreign exchange gain on translation of intercompany balances 5,374 - 7,482 - Fair value adjustments on interest rate swap contracts not subject to hedge accounting 414 - - - Restructuring expense - - (2,884) (3,549) Tax on items affecting comparability (1,187) (217) 1,206 511 ------------------------------------------------------------------------- Net earnings 38,318 28,509 94,893 78,217 ------------------------------------------------------------------------- -------------------------------------------------------------------------

 ------------------------------------------------------------------------- Q3-2010 Q3-2009 YTD-2010 YTD-2009 ------------------------------------------------------------------------- ($ thousands) Adjusted Information Products revenues 120,745 127,849 350,393 383,405 Retroactive application of net revenue recognition to BC OnLine revenues - - - 25,809 Retroactive application of net revenue recognition to certain contracts for valuation-related solutions in the U.K. - 6,215 670 22,915 ------------------------------------------------------------------------- Information Products revenues 120,745 134,064 351,063 432,129 ------------------------------------------------------------------------- -------------------------------------------------------------------------

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MDA reports third quarter 2010 results