Edition:
India

Maxar Technologies Reports 2018 Year End Results


Friday, 1 Mar 2019 

Feb 28 (Reuters) - Maxar Technologies Inc ::MAXAR TECHNOLOGIES REPORTS 2018 YEAR END RESULTS.Q4 REVENUE $496 MILLION VERSUS $545 MILLION.ANNOUNCES ORGANIZATIONAL RESTRUCTURING TO DRIVE SAVINGS AND REDUCE COST STRUCTURE.ANNOUNCES ORGANIZATIONAL RESTRUCTURING TO DRIVE SAVINGS AND REDUCE COST STRUCTURE.CONCLUDES REVIEW OF STRATEGIC OPTIONS FOR GEO COMSAT BUSINESS.QUARTERLY DIVIDEND REDUCED TO $0.01.TOTAL FUNDED ORDER BACKLOG OF $2.4 BILLION AS AT DECEMBER 31, 2018 COMPARED TO $3.3 BILLION AS AT DECEMBER 31, 2017..BOOKINGS IN 2018 HAVE BEEN NEGATIVELY IMPACTED BY MARKET OUTLOOK FOR GEO COMSAT BUSINESS INSIDE COMPANY'S SPACE SYSTEMS SEGMENT.UNFUNDED BACKLOG ENDED 2018 AT $1 BILLION VERSUS. $119 MILLION IN 2017.ANNUAL COST SAVINGS FROM RESTRUCTURING OF $60-$70 MILLION.ENHANCEDVIEW CONTRACT EXTENDED TO AUGUST 31, 2023.CONCLUDED THAT GEO COMSAT BUSINESS WILL GENERATE MORE VALUE AS PART OF MAXAR COMPARED TO ALTERNATIVES THAT WERE EVALUATED.QTRLY NET LOSS PER SHARE, DILUTED $16.10.RECOGNIZED A NET $883 MILLION IN IMPAIRMENT AND OTHER CHARGES DURING QUARTER.Q4 REVENUE DECREASE WAS PRIMARILY DRIVEN BY A DECLINE IN SPACE SYSTEMS SEGMENT, IN PART OFFSET BY GROWTH IN IMAGERY AND SERVICES. 

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