CAMBRIDGE, ON, April 30 /CNW/ - COM DEV International Ltd. (TSX: CDV)
today announced that it has been awarded a follow-on civil space contract
valued at $39 million. Work will begin immediately on this phase of the
program and is expected to be completed by the end of COM DEV's 2009 fiscal
year. The Company had announced an expectation of being awarded this contract
in its first quarter earnings news release disseminated March 15, 2007. The
customer and the satellite program involved cannot be named at this time due
to contractual restrictions, but the Company expects to announce full details
upon receiving permission from the customer.
"This contract, which is among the largest in our history, represents a
major milestone in our ongoing strategy of growing our civil space business,"
said Mike Pley, President of COM DEV. "As we expected, new order activity in
our fiscal second quarter has been very solid, with many smaller contracts
complementing this major one."
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. With facilities in Canada, the United Kingdom and the United
States, COM DEV 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.
For further information:
For further information: Gary Calhoun, Chief Financial Officer, Tel:
(519) 622-2300 ext. 2826, Fax: (519) 622-2158, firstname.lastname@example.org; Jeff
Codispodi, The Equicom Group, Tel: (416) 815-0700 ext. 261, Fax: (416)