|
|
|
|
|
|
|
|
|
Three months ended |
||||||
|
March 31, |
||||||
|
2020 |
2019 |
|||||
($ millions) |
|
|
|
|
|
|
|
Revenues |
$ |
271 |
|
$ |
254 |
|
|
Adjusted EBITDA |
$ |
133 |
|
$ |
125 |
|
|
Adjusted EBITDA Margin |
|
49.1 |
% |
|
49.2 |
% |
|
Revenues from the Earth Intelligence segment increased to $271 million from $254 million, or by $17 million, for the three months ended March 31, 2020, compared to the same period of 2019. The increase was primarily driven by $11 million in revenue growth from new contract awards and expansion of existing programs with the U.S. government. There was also a $6 million increase in revenues in 2020 from an international customer due to a delay in contract signing in 2019.
Adjusted EBITDA increased to $133 million from $125 million, or by $8 million, for the three months ended March 31, 2020, compared to the same period of 2019. The increase was primarily driven by an increase in revenues and a decrease in selling, general and administrative expenses due to headcount reductions taken in the first half of 2019.
Space Infrastructure
|
|
|
|
|
|||||
|
Three months ended |
||||||||
|
March 31, |
||||||||
|
2020 |
2019 |
|||||||
($ millions) |
|
|
|
|
|||||
Revenues |
$ |
|
132 |
|
$ |
|
210 |
|
|
Adjusted EBITDA |
$ |
|
(39 |
) |
$ |
|
(2 |
) |
|
Adjusted EBITDA Margin |
|
(29.5 |
)% |
|
(1.0 |
) % |
|||
