SPDV Profit

05/17/05 00:00:00    

By Michael Mealling

Dan Schrimpsher sent email about SpaceDev making a profit very late last night so I'm just now posting this (or, as a friend says, “Sleep when you're dead”):

SpaceDev (SPDV) posted a $101,223 net income for 2005, up from a net loss of of $442,549 last year. The really good news is that it was real since backed out EBITDA was $94,628. They even had to pay $400 in income tax.

Great job guys!

BTW, read their 10QSB in detail. There are some interesting tidbits in there such as the fact that Lunar Enterprise of California has paid them a total of $250,000 for lunar mission development and the revenue from the Scaled Composites contract was around $686,000.