The bottom line was that 2012 was a big year and 2013 will be big, too:
- Grew revenue 24% to $421.4 million.
- Grew next 12-month backlog 37% to $419 million.
- Commercial revenue was a record
- $535-660M for 2013
Leadership reviewed four goals for the year and how they were met:
1) Meet Full potential of Enhanced View
- met and exceeded
- updated ground stations
- integrated with NGA
- enhanced delivery
- combining with GeoEye delivers more product, faster
Shared that the company is in a good place, should sequestration go forward.
2) Diversification of Revenue
- $195M from non Enhanced View money this year, up 24%
- Expect that to be higher, about 65% from diversified, with GeoEye, next year
- Grew in international govs, LBS and other industries
3) Investment Excellence
- Joining with GeoEye enhances value, content, delivery
- And supports other goals
- Financial synergies - raising projections - $100 million growth after six quarters
4) Develop a Culture of Leadership
- Key hires and promotions
- Diverse team with record of success
- Two new folks from GeoEye in senior leadership
In the Q&A I found two questions interesting.
One was about expansion of non-US government revenue. There are two areas that look promising, but have longer sales cycles.
- humanitarian areas
- local law enforcement
The second was about use of capital.
- Expect more acquisitions
- replay of call and slides (pdf)