MDA Says Q1 Profit Rose 23%

PR - MacDonald Dettwiler and Associates Ltd., which had the sale of its space division to a U.S. defence contractor officially blocked by Ottawa last week, said profit in the first quarter rose 23 per cent, but revenues fell due to the appreciation of the loonie. Vancouver-based MDA reported first-quarter earnings of $26 million or 64 cents per share on revenues of $290 million for the quarter ended March 31. That compared to profit of $21 million or 49 cents per share on revenues of $306 million for the first quarter of 2007. Source: Canadian Press