Second Major Contract Announcement this Quarter
COM DEV International Ltd. (TSX:CDV – News) today announced it has been awarded a $5.0 million contract to provide core COM DEV switch and multiplexer products to a large commercial satellite program. The satellite, when launched, will join a fleet of satellites providing broadcast services to Europe, the Middle East, Asia and Africa. The name of the customer and the satellite program involved cannot be provided at this time because of contractual restrictions.
The contract work will be carried out at COM DEV’s facilities in Cambridge, Ontario and is scheduled to be delivered in April, 2006.
Commenting on this award, COM DEV’s CEO, John Keating said, “This is the second major contract announcement for the Company this quarter and is a strong sign that the high level of negotiation activity that has been ongoing for some time now is starting to bear fruit. We are continuing to negotiate on several other programs and are optimistic of further successes in winning new business in the remainder of this quarter and the next.”
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.
