DigitalGlobe’s loss widens despite jump in 1Q revenue

LONGMONT – Satellite imagery provider DigitalGlobe Inc. (NYSE: DGI) saw its first-quarter net loss grow from $600,000 a year ago to $5.9 million this year despite an 8.2 percent increase in revenue.

The Longmont-based company, which is planning to move its headquarters to Westminster this year, reported its financial results for the first quarter of 2015 after markets closed Thursday. DigitalGlobe’s share price closed at $32.17, down 48 cents from the previous day.

DigitalGlobe’s net loss came out to 8 cents per diluted share compared to 1 cent per diluted share a year ago.

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The company reported revenue of $169.4 million, with the increase due to a 17.6 percent boost in U.S. government revenue to $114.8 million.

The government revenue boost offset a 7.3 percent decline in diversified commercial revenue. About 2 percentage points of that decline, the company said, was attributable to “continued challenges in Russia.”

The company generated $25.6 million in free cash flow for the quarter, and reaffirmed guidance on its expected revenue for the full year 2015 at $725 million to $750 million.

“We expect our Diversified Commercial growth to improve in the second half as we monetize (the company’s new WorldView-3 satellite) and generate results form a number of new products and initiatives,” CEO Jeffrey Tarr said in a press release.