RICHMOND, BC, April 28, 2015 /CNW/ - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX:MDA), a global communications and information company, today announced that the Government of Canada's Department of National Defence (DND) has exercised its third renewal option for a contract originally announced in April 2013. MDA will continue to provide operational support for the east and west coast RADARSAT-2 ground systems that support the Polar Epsilon Near-Real Time Ship Detection (NRTSD) system. The option is valued at approximately CA$2.4 million and extends support until March 2016.
The NRTSD system is a broad-area surveillance system that was delivered by MDA to DND in 2012. The system delivers space-based, day and night, all-weather maritime surveillance information of Canada's Arctic, Atlantic and Pacific oceans and includes global high-resolution surveillance capabilities to support deployed Canadian Forces.
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide.
MDA's business is focused on markets and customers with strong repeat business potential, primarily in the Communications sector and the Surveillance and Intelligence sector. In addition, the Company conducts a significant amount of advanced technology development.
MDA's established global customer base is served by more than 4,800 employees operating from 11 locations in the United States, Canada, and internationally.
The Company's common shares trade on the Toronto Stock Exchange under the symbol "MDA."
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the extension of an existing government contract. Any such forward-looking statements are based on MDA's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. The factors and assumptions underlying the forward-looking statements in this release include contracts with any government agency not being terminated. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include, but are not limited to: risks associated with operating a satellite including in-orbit failures or impaired satellite performance; quality issues and failure of systems to meet performance requirements or to be accepted by a customer; changes in government priorities, mandates, policies, funding levels, contracts and regulations; failure of third parties and subcontractors; and failure of systems to meet performance requirements.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online under the Company's profile at www.sedar.com or on the Company's website at www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
SOURCE MacDonald, Dettwiler and Associates Ltd.
For further information: Wendy Keyzer, MDA External Relations, (604) 231-2743, [email protected]