COM DEV International Ltd. (TSX: CDV) today announced that it has received Authorizations to Proceed (ATPs) from Orbital Sciences Corporation (NYSE: ORB) totaling US$3.5 million to provide multiplexers and switches for at least two commercial satellite programs. The ATPs are expected to lead to full contracts valued at over US$16 million, with work to be completed by October, 2008. In addition, the ATPs establish an option for Orbital to submit follow-on orders with a total potential value in excess of US$20 million to support potential new satellite orders that it may win over the next three years.
“We view Orbital’s decision to award us a substantial amount of work on multiple programs as a strong vote of confidence in our capabilities,” said Mike Pley, President of COM DEV. “On these programs we will be building assemblies with a high level of integration, consistent with our strategy of moving up the value chain. By packaging the payload hardware in a very compact structure we can provide a lot of value to a customer like Orbital, one of the world’s leading suppliers of smaller-sized commercial communications satellites.”
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global designer and manufacturer of space hardware subsystems. With facilities in Canada, the United Kingdom and the United States, COM DEV manufactures advanced products and subsystems that are sold to major satellite pr ime contractors for use in communications, space science, remote sensing and military satellites. COM DEV and COM DEV USA 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.
For further information
Gary Calhoun, Chief Financial Officer, Tel: (519) 622-2300 ext. 2826, Fax: (519) 622-2158, gary.calhoun@comdev.ca
Jeff Codispodi, The Equicom Group, Tel: (416) 815-0700 ext. 261, Fax: (416) 815-0080, jcodispodi@equicomgroup.com
