Maxar says coronavirus crisis reduced space infrastructure sales

Maxar Technologies said Monday its space infrastructure business saw cost growth of $18 million in its most recent quarter as a result of the coronavirus outbreak.

The company said the "COVID-19 operating posture" increased program costs, and the unit also faces supplier delays and increased labor hours.

At the same time, Maxar said the unit recorded another $14 million hit to sales because it identified "a design anomaly" in a commercial satellite program.

Meanwhile, Maxar reported quarterly sales of $381 million, down almost 12% from the same three-month period a year earlier. The company announced a loss for the quarter of $48 million, down from a $57 million loss the prior year.