COM DEV International Ltd.
today announced it has reached $49 million in new orders in the current fiscal
quarter, bringing its current backlog to more than $77 million compared to its
third quarter reported backlog of $45.9 million.
The work for these various contracts will be carried out at COM DEV’s
facilities in Cambridge, Ontario and its European facility in Aylesbury, U.K.
Commenting on these awards, COM DEV’s CEO, John Keating said, “The order
level is now running at an exceptionally high level. It is more than double
the normal rate, which bodes well for future growth and profitability. On
August 28th, when the Company released its Q3 financial results, we indicated
that we had already received approximately $30 million in orders in the early
part of the 4th quarter. The high level of award activity has continued with
approximately $19 million in new business received since that date”
About COM DEV
COM DEV International Ltd. (www.comdev.ca) based in Cambridge, Ontario,
is the largest Canadian-based designer and manufacturer of space hardware
subsystems.
COM DEV, with facilities in Canada and the United Kingdom, manufactures
advanced products and subsystems that are sold to major satellite prime
contractors for use in communications, space science, remote sensing and
military satellites.
COM DEV and COM DEV Space are registered trademarks of COM DEV
International Ltd. This news release may contain certain forward-looking
statements that involve risks and uncertainties. Actual results may differ
materially from results indicated in any forward-looking statements. The
company cautions that, among other things, in view of the rapid changes in
communications markets and technologies, and other risks including the cost
and market acceptance of the company's new products, the level of individual
customer procurements and competitive product offerings and pricing, and
general economic circumstances, the company's business prospects may be
materially different from forward-looking statements made by the company.
