In addition to posting a Q2 beat, DigitalGlobe (NYSE:DGI) has announced a $75M buyback. It's good for repurchasing 3% of shares at current levels.
The satellite imagery provider's U.S. government sales (61% of total) rose 15.5% Y/Y in Q2 to $95.5M (Q1 growth was 26%), aided by a 66% increase in value-added services sales (boosted by analytics and geospatial intelligence offerings) to $32.3M.
Commercial revenue fell 8% to $62.3M after rising 18% in Q1. DGI blames tough comps - two major deliveries took place a year ago - and Russian weakness caused by geopolitical tensions.
Full-year revenue guidance of $630M-$660M has been reiterated. Consensus is at $644.4M.
Q2 results, PR