CAMBRIDGE, ON, June 9, 2015 /CNW/ - COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced that it has received an order to supply passive microwave equipment for a communications satellite. The initial Authorization to Proceed (ATP) is valued at $4 million, and is expected to lead to a full contract valued in excess of $9 million. Work will be carried out at COM DEV's facilities in Cambridge over the next year. All figures in this release are stated in Canadian dollars.
COM DEV will develop multiplexers and switches for the satellite, which will fly in geostationary Earth orbit (GEO) and provide a range of communications services. The customer and program cannot be identified for contractual reasons.
"We are pleased to have another opportunity to work with a long-standing customer on a major GEO satellite," said Mike Williams, president of COM DEV's products division. "In this instance our considerable heritage in developing components for non-standard frequencies was instrumental in our selection."
About COM DEV
COM DEV International Ltd. (www.comdev.ca) is a leading global provider of space hardware and services. The company has a staff of 1,200, annual revenues of $208 million, and facilities in Canada, the United Kingdom the United States, India, and China. COM DEV designs manufactures, and integrates advanced products, subsystems and microsatellites that are sold to major satellite prime contractors, government agencies and satellite operators, for use in communications, space science, remote sensing and defence applications. The company has won contracts to supply its equipment on over 900 spacecraft. COM DEV's majority-owned subsidiary, exactEarth Ltd., provides satellite data services for global maritime surveillance.
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.
The triangular logo and the word COM DEV are each registered trademarks and the property of COM DEV Ltd. All rights reserved.
SOURCE Com Dev International Ltd.
For further information: Gary Calhoun, Chief Financial Officer, Tel: (519) 622-2300 ext. 2826, [email protected]; Jeff Codispodi, Director, Investor Relations & Communications, Tel: (519) 622-2300 ext. 2844, [email protected]