COM DEV Announces Preliminary Fourth Quarter Results
CAMBRIDGE, ON,
Management currently expects fourth quarter results to be as follows:
- Revenue of $56 to $58 million - Gross margin of 25% - Net income of less than $1 million - New orders of $66 to $68 million - Backlog of $162 to $164 million at October 31, 2009 - Cash balance of $21 million at October 31, 2009
"We expect to report full year revenue growth of 14% and net income growth of over 20%, however, fourth quarter results were affected by disappointing performance in two of our domestic government programs," said
In the fourth quarter management also expects to record an unrealized foreign exchange loss of
COM DEV expects to reports its complete financial results for fiscal 2009 on
Conference Call
A conference call will be held
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global designer and manufacturer of space hardware subsystems. With facilities in
This news release contains statements that, to the extent they are not recitations of historical fact, may constitute "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements may include financial and other projections, as well as statements regarding COM DEV's future plans, objectives or economic performance, or the assumptions underlying any of the foregoing. COM DEV uses words such as "may", "would", "could", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by COM DEV in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors COM DEV believes are appropriate under the relevant circumstances. However, whether actual results and developments will conform to COM DEV's expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause COM DEV's actual results, historical financial statements, or future events to differ materially from those expressed or implied by the forward-looking statements contained in this news release. These factors include, without limitation: uncertainty in the global economic environment; fluctuations in currency exchange rates; delays in the purchasing decisions of COM DEV's customers; the competition COM DEV faces in its industry and/or marketplace; and the possibility of technical, logistical or planning issues in connection with the deployment of COM DEV's products or services.
The triangular logo and the word COM DEV are each registered trademarks and the property of COM DEV Ltd. All rights reserved.
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For further information: For further information: Gary Calhoun, Chief Financial Officer, Tel: (519) 622-2300 ext. 2826, [email protected]; Jeff Codispodi, The Equicom Group, Tel: (416) 815-0700 ext. 261, [email protected]
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