DigitalGlobe, Inc. (DGI, Financial), a satellite imaging provider, fell 29% in the quarter after lowering their earnings outlook. The company experienced a slowdown in its commercial segment due to deferrals in projects in emerging markets. Also, the launch of a new satellite was delayed, which will push out profits. On the positive side, they reported continued success integrating their major acquisition and cost savings have expanded. Though this year's numbers will be soft, we believe that 2015 will be a banner year and expect continued cash flow growth beyond. We still like the situation, and, as a result, added to our position.
From Baron Funds' first quarter 2014 commentary.
