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Com Dev USA wins U.S. government satellite contract worth US$7 million

CAMBRIDGE, Ont. - Com Dev International Ltd. (TSX: CDV) says its American unit has won a contract worth more than US$7 million to provide microwave equipment for a U.S. government space program.

CAMBRIDGE, Ont. - Com Dev International Ltd. (TSX: CDV) says its American unit has won a contract worth more than US$7 million to provide microwave equipment for a U.S. government space program.

The latest deal follows a contract announced last month, the company, based in Cambridge, Ont., said Wednesday.

Design and production work will be done at Com Dev's manufacturing plant in El Segundo, Calif., a suburb of Los Angeles. Delivery is scheduled for the middle of fiscal 2011.

"In the past month we have announced over $20 million of new contract wins for work on three separate satellites," said Dan White, President of Com Dev USA. "We begin our 2010 fiscal year with a very healthy backlog that should allow us to maintain the momentum we have established at our El Segundo facility. We achieved or exceeded all our major targets in 2009 and we are very excited about continuing to execute our growth strategy."

In trading on the TSX, Com Dev shares fell three cents to C$3.76.

 
 
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