Second quarter 2009 revenue was $70.0 million, an increase of $2.6 million compared to the same period last year. Second quarter net income was $8.4 million or $0.19 per diluted share as compared to net income $11.6 million or $0.26 per diluted share for the second quarter 2008. Net income for the second quarter 2009 included a pre-tax charge of $7.7 million, or $0.17 per diluted share, related to the early extinguishment of debt.
Second quarter 2009 Adjusted EBITDA, a non-GAAP financial measure, was $42.4 million, compared to second quarter 2008 Adjusted EBITDA of $42.2 million. An explanation of Adjusted EBITDA and a reconciliation to net income are set forth at the end of this press release.
“I am pleased with our financial performance for the second quarter, which marks our first quarter as a public company,” said Jill Smith, Chairman, Chief Executive Officer, and President of DigitalGlobe. “We also achieved key milestones in the quarter including: extending our Service Level Agreement (SLA) with the National Geospatial-Intelligence Agency (NGA); setting a launch date for WorldView-2, our third high-resolution satellite; and finalizing two additional international Direct Access Program (DAP) contracts.”
Ms. Smith continued, “We believe the significant investments we are making in our business today, along with the expanded imagery capacity available from WorldView-2, position us for growth in 2010 and beyond.”
Full Year 2009 Outlook
Conference Call Information
DigitalGlobe’s management will host a conference call today at 5:00p.m. ET/ 3:00p.m. MT to discuss its second quarter 2009 financial results.
The conference call dial-in numbers are as follows:
US/Canada dial-in: (866) 921-3936
International dial-in: (706) 679-9623
A replay of the call can be accessed by phone at the following number for 30 days following the call:
US/Canada dial-in: (800) 642-1687
International dial-in: (706) 645-9291
DigitalGlobe will also sponsor a live and archived webcast of the conference call on its website, www.digitalglobe.com.
Longmont, Colorado-based DigitalGlobe ( http://www.digitalglobe.com) is a leading global provider of commercial high- resolution earth imagery products and services. Sourced from our own advanced satellite constellation, our imagery solutions support a wide variety of uses within defense and intelligence, civil agencies, mapping and analysis, environmental monitoring, oil and gas exploration, infrastructure management, internet portals and navigation technology.