Maxar CEO says company is seeking diversified sales in space infrastructure unit

By Marjorie Censer / February 25, 2021 at 11:27 AM

Maxar Technologies' chief executive said this week the company has made changes in its space infrastructure business as it pursues "a firm foundation for growth."

In a call with analysts Wednesday evening, Dan Jablonsky said in the space infrastructure business, the company developed a new business capture approach.

"We also placed new talent in leadership roles in particular [in] software development, mission architecture, and business development through a combination of new hires and internal moves," he added.

Jablonsky said Maxar is seeking to "establish a firm foundation for growth at space infrastructure."

"This means we'll be focused on driving diversified booking, so that we achieve our target goal for revenue mix of [one-third] commercial, [one-third] civil and [one-third] military and intelligence," he said. "We've made some nice progress over the past two years, especially with NASA, science and exploration missions, but there's still more work to be done."

Meanwhile, Maxar said this week sales in its most recent quarter totaled $467 million, up 14% from the same three-month period a year earlier. The company attributed the growth to increased sales in the space infrastructure segment.

However, Maxar reported a quarterly loss of $40 million, down from a $43 million quarterly profit the prior year. The company said the prior year results were buoyed by a sale of assets.

For the year, the company said sales totaled $1.7 billion, up 3% from 2019. Profit for the year reached $303 million, up 78% from 2019.

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