Maxar Technologies reports fourth quarter and year end 2017 results

 

The following table reconciles adjusted EBITDA and adjusted earnings to net earnings in Canadian dollars for the last eight quarters, had the Company continued to use a Canadian dollar presentation currency for the year ended December 31, 2017.











Q4
2017

Q3
2017

Q2
2017

Q1
2017

Q4
2016

Q3
2016

Q2
2016

Q1
2016

(C$ millions, except per share amounts)









Adjusted EBITDA

230.3

85.0

88.3

83.9

88.8

80.4

92.2

93.0










Net finance expense

(59.7)

(13.9)

(14.6)

(14.0)

(13.4)

(11.4)

(11.7)

(12.9)

Depreciation and amortization1

(68.9)

(14.0)

(15.3)

(14.6)

(15.2)

(14.9)

(14.4)

(15.1)

Income tax expense on adjusted earnings

(16.9)

(12.2)

(11.4)

(10.4)

(8.5)

(8.0)

(8.9)

(9.1)

Adjusted earnings

84.8

44.9

47.0

44.9

51.7

46.1

57.2

55.9

Adjusted earnings per share, diluted

1.52

1.23

1.29

1.23

1.42

1.26

1.57

1.53

Items affecting comparability:









Share-based compensation recovery (expense)

(58.4)

(6.6)

(2.6)

(6.5)

5.2

3.0

(23.6)

(3.9)

Amortization of acquisition related intangible










assets                                                               

(70.4)

(10.0)

(10.8)

(10.6)

(10.7)

(11.1)

(10.3)

(11.0)

Acquisition related expense

(38.3)

(12.0)

(16.1)

(10.7)

-

-

-

-

Interest expense on dissenting shareholder liability

(2.4)

-

-

-

-

-

-

-

Loss from early extinguishment of debt

(28.8)

-

-

-

-

-

-

-

Restructuring and enterprise improvement costs

(25.8)

(1.0)

(6.1)

(14.3)

-

-

-

(4.8)

Executive compensation settlement

-

-

-

-

-

-

(3.0)

-

Foreign exchange differences

1.6

0.5

13.1

0.2

(7.2)

2.0

(2.2)

3.8

Loss from joint venture

(0.6)

-

-

-

-

-

-

-

Recognition of previously unrecognized deferred










tax assets

158.9

-

-

-

-

-

-

-

Income tax expense adjustment

65.9

(0.9)

1.3

2.9

(7.1)

1.8

7.2

0.7

Net earnings

86.5

14.9

25.8

5.9

31.9

41.8

25.3

40.7

1 Excludes amortization of acquisition related intangible assets.


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