DigitalGlobe reports smaller profit

LONGMONT – Despite its revenue increasing, Longmont-based DigitalGlobe Inc. reported a smaller profit for its first quarter 2010 ending March 31.

DigitalGlobe (NYSE: DGI), a provider of high-resolution earth imagery products and services, reported quarterly revenue of $77.1 million, compared to $67.2 million a year ago. The company reported a $1.5 million profit, or 3 cents per share, compared to $10.6 million for the same period a year ago.

“Our double-digit top-line growth was driven by strength across both the defense and intelligence and the commercial segments,” Jill Smith, the company’s chief executive officer, said in a statement.

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DigitalGlobe reported $142.3 million in cash and cash equivalents at the end of the first quarter compared to $97 million for its fourth quarter ended December 31 and $67.9 million for its first quarter 2009.

The company expects 2010 total revenue between $330 million and $360 million.