Profits up for Brampton-based space robotics company working on Canadarm3 [Video]

MDA Space Ltd. reported its fourth-quarter profit rose compared with a year ago as its revenue also climbed higher, helped by strong contributions from its satellite systems business.

MDA is an international space mission partner which opened its new headquarters in Brampton last year with state-of-the-art labs, manufacturing, R&D, assembly and test facilities.

The company says it earned $25.1 million or 20 cents per diluted share in its quarter ended Dec. 31.

The result compared with a profit of $13.5 million or 11 cents per diluted share in the last three months of 2023.

Revenue for the quarter totalled $346.6 million, up from $205.0 million a year earlier.

On an adjusted basis, MDA says it earned 28 cents per diluted share in its latest quarter, up from an adjusted profit of 23 cents per diluted share a year earlier.

The company’s backlog stood at $4.4 billion at the …