[SatNews] GeoEye, Inc. (NASDAQ: GEOY) has announced results for its fiscal first quarter ended March 31, 2011.

“During the quarter, GeoEye achieved revenue growth and operating results that were in line with our expectations,” said Matt O’Connell, GeoEye’s chief executive officer and president. “We have continued our focus on the successful execution of our multi-billion-dollar EnhancedView award; the commercial deployment of our Web dissemination services platform, EyeQ™; and the integration of our GeoEye Analytics business. We are very pleased with the competitive position we have in our government, commercial and international markets and with the revenue visibility that we have into the remainder of the year.”

Total revenues were $86.6 million for the first quarter of 2011, a 7.8 percent increase from the first quarter of 2010. The net income available to common stockholders for the first quarter of 2011 was $10.0 million, or $0.44 per fully diluted share, compared to net income of $0.8 million, or $0.04 per fully diluted share, for the first quarter of 2010. Adjusted net income available to common shareholders (a non-GAAP measurement that excludes the impact of non-operating charges, gains and one-time charges and tax benefits) for the first quarter of 2011 was also $10.0 million, or $0.44 per diluted share, as compared to $11.2 million, or $0.52 per diluted share, in the same period in 2010.

Operating profit was $24.2 million for the first quarter of 2011. Operating margin was 27.9 percent for the first quarter of 2011, compared to 33.0 percent in the first quarter of 2010. Adjusted EBITDA (a non-GAAP measurement defined as net income before interest, taxes, depreciation, amortization, non-cash recognition of stock compensation expense and other items) was approximately $43.8 million for the first quarter of 2011, compared to $43.5 million in the same period in 2010.

The Company ended the first quarter of 2011 with unrestricted cash, cash equivalents and short-term investments of $280.1 million; total assets of approximately $1.3 billion; stockholders’ equity of $457.2 million and long-term debt of $508.8 million. To read the entire financial report, access this direct infolink.