EL SEGUNDO, CA, Nov. 11 /CNW/ - COM DEV USA, LLC, a subsidiary of COM DEV International Ltd. (TSX: CDV), today announced that it has been awarded a contract valued in excess of US$7 million to provide passive microwave equipment for a US Government space program. This contract covers work on the fourth spacecraft in a multiple-satellite constellation, and follows a contract announced last month relating to the third spacecraft in the same program. Design and production work will be performed at COM DEV USA's manufacturing facility in El Segundo, California with delivery 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."
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 prime contractors for use in communications, space science, remote sensing and military satellites.
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.
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SOURCE COM DEV International Ltd.
For further information: For further information: Gary Calhoun, Chief Financial Officer, COM DEV International, Tel: (519) 622-2300 ext. 2826, email@example.com; Dan White, President, COM DEV USA, Tel: (424) 456-8006, firstname.lastname@example.org; Jeff Codispodi, The Equicom Group, Tel: (416) 815-0700 ext. 261, email@example.com