NEW YORK (TheStreet) --Shares of DigitalGlobe Inc. (DGI) are advancing by 14.78% to $32.65 in mid-morning trading on Friday, after the provider of geospatial information products and services reported its 2014 fourth quarter earnings results which came in higher than analysts had predicted for the period.
DigitalGlobe said its net income for the most recent quarter was $10.7 million, or 14 cents per diluted share versus the $13.6 million, or 18 cents per diluted share reported for the 2013 fourth quarter.
Analysts polled by Thomson Reuters were expecting earnings of 6 cents per share for the quarter.
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Revenue for the 2014 fourth quarter grew by 9.4% to $185.7 million, while analysts forecast for $180.27 million in revenue for the quarter.
"2014 was a milestone year for DigitalGlobe, as we marked our transition from a period of investment in building the world's leading earth observation capability to a new era of growth, margin expansion, free cash flow and improving returns. In 2015, we will accelerate growth through increased capacity and new product offerings that leverage our data, analytics and unique geospatial information capabilities. We will also remain keenly focused on driving operating efficiencies in order to both invest in growth and return capital to shareowners," CEO of DigitalGlobe Jeffrey R. Tarr said in a statement.
Separately, TheStreet Ratings team rates DIGITALGLOBE INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate DIGITALGLOBE INC (DGI) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow."
You can view the full analysis from the report here: DGI Ratings Report