DigitalGlobe Q4 Profit Beats, Revenue Misses; FY14 Revenue Outlook Weak

(RTTNews) - DigitalGlobe, Inc. (DGI) reported net income for the fourth quarter of $13.6 million or $0.18 per share, compared to $17.1 million or $0.36 per share for the year-ago quarter.

Fourth quarter 2013 revenue rose 35% to $169.7 million from $125.4 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.07 per share on revenue of $185.92 million for the fourth quarter.

For 2014, the company expects to report revenue in a range of $630 million to $660 million. Analysts currently expect the company to post revenue of $710.28 million for the full year 2014.

DigitalGlobe also said it has acquired privately-held Spatial Energy, a source for digital imagery and geospatial solutions to the global oil and gas industry, serving 12 of the top 20 oil and gas companies around the world. Financial terms of the deal were not disclosed.

DigitalGlobe shares are currently trading at $30.95, down $10.16 or 24.72%.