COM DEV International Ltd. today announced that it has received an Authorization to Proceed (ATP) to supply multiplexer and switch equipment to a major European satellite manufacturer for use in a commercial communications satellite. COM DEV expects the ATP to lead to a contract with a potential value of CDN $8 million, with the equipment to be delivered over the next 12 months.
As a result of its recent success in winning mandates on this and other projects, COM DEV is raising its projection for fiscal 2006 revenue growth to 15%, compared to previous guidance of 10% growth. Revenue for the full year ended October 31, 2005 was $123.6 million.
“We continue to see positive fundamentals in each of our market segments – commercial, civil and military,” said John Keating, CEO of COM DEV. “Commercial communications satellite orders in particular have been very robust in 2006, and our team has done an outstanding job capturing a strong share of this activity. Based on a high level of visibility, we are now confident in our ability to deliver revenue growth for this year in excess of our previous estimates.”
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.
