Jeffrey Tarr: DigitalGlobe Achieved Double-Digit Growth in Q1

DigitalGlobeDigitalGlobe (NYSE: DGI) gained $156.5 million in revenue during the first quarter of its 2014 fiscal year ending March 31, representing a 23-percent year-over-year increase.

Jeffrey Tarr, CEO of DigitalGlobe, said Thursday the company generated double-digit revenue growth in part due to expansion in its U.S. and government businesses worldwide, as well as integration programs.

The earth observation and geospatial services provider posted $67.9 million in adjusted earnings before interest, taxes, depreciation and amortization for the first quarter.

“In the quarter, we also scaled our Tomnod crowdsourcing platform — enabling more than 8 million volunteers to aid government customers in the search for Malaysia Airlines Flight MH370, ” added Tarr.

DigitalGlobe’s first quarter revenue in its U.S. government business increased 26 percent from the prior year period to $97.6 million.

Diversified commercial revenue reached $58.9 million for the quarter, up 18 percent from the same period in fiscal 2013.

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