Maxar Technologies has announced a multi-hundred million dollar contract award to build multiple 1300-Class communications satellites for an undisclosed customer.
The announcement was made along with an earnings report showing that the coronavirus pandemic roiling the global economy put a crimp in Maxar’s satellite manufacturing revenue even as its satellite imagery division saw sales rise.
Maxar said the satellite order, which industry analysts say is likely driven by a US effort to clear satellite C-band spectrum to make way for 5G wireless networks, is a “multi-hundred million dollar contract.”
“We’re not commenting on who the customer is or what the nature of the satellites are other than that they are GEO communications satellites, 1300 class, and of a type we’ve built before,” Maxar CEO Dan Jablonsky said during the earnings call.
Maxar reported consolidated revenues of $381m for Q1 of 2020, an 11.6% decline from the same time period in 2019. The revenue was primarily driven by a $78m decrease in the space infrastructure segment which was partially offset by a $17m increase in the Earth intelligence segment. Maxar reported a net loss of $48m, compared to a net loss of $57m in Q1 2019. These results come after Maxar reported a full year of revenue decline for 2019.
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