Image source: DigitalGlobe Inc.

What: Shares of DigitalGlobe Inc (NYSE:DGI) closed up by 14.8% on Friday, July 29, following the release of the company's second-quarter financial and operating results before market open. 

So what: DigitalGlobe reported net income of $12.2 million, up 53% from the year-ago quarter, even though revenue -- which can be lumpy from quarter to quarter -- was slightly down. The company reported lower expenses in a number of categories, including a 15% reduction in sales, general, and administrative expenses. DigitalGlobe also delivered strong cash flows of $45.5 million, spending $16 million of it to repurchase stock. 

Management also raised its full-year guidance, as follows: 

MetricPrior GuidanceNew Guidance
Revenue $670 million to $700 million $680 million to $705 million
Adjusted EBITDA  $330 million to $355 million $345 million to $365 million
Capital expenditures  ~$125 million ~$125 million

Data source: DigitalGlobe. 

Now what: DigitalGlobe's results were welcomed by the market, as they exceeded most analyst expectations, but the company has big plans for the future, too. Not only did management discuss multiple new contract wins on the earnings call that will deliver revenue and earnings growth in coming years, but it also gave some detail on DigitalGlobe's next satellites.

Director of Finance Patrick Elliott said that the company was on track to launch WorldView 4, which will be the company's second 30-centimeter satellite, on September 15, and have already begun signing agreements with potential customers to utilize it.  DigitalGlobe is also working on a fleet of smaller satellites, which it will name Scout, to work in conjunction with its larger WorldView satellites to "help monitor some of the world's most volatile regions," according to Elliott. 

Elliott also said that the company is on track to start investing in development of the next-generation high-resolution satellite system in the next couple of years, with the intent to replace the combined capacity of WorldView 1 and WorldView 2. 

Put it all together and DigitalGlobe not only reported a strong quarter, but also gave investors a big-picture view of its plans to keep delivering in the years to come. 

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