Blue skies in COM DEV’s 1st quarter

CAMBRIDGE – Space hardware subsystems maker COM DEV International Inc. records COM_DEV-logo185X36.JPGsubstantial increases in revenue and net income in the first quarter of 2009, ending Jan. 31: revenue $56.5 million, up 26% over $44.9 million a year earlier; net income $4.4 million, or $0.06 per share, compared to $1.3 million, or $0.02 per share for the comparable period last year. New orders in the first quarter, $88 million, are substantially above the $33 million booked in the first quarter of 2008. “High levels of new orders and a record backlog at quarter-end position us well for the rest of the year,” says CEO John Keating. “The indicators we track continue to point to ongoing strength in the global space industry, despite challenges being seen in other sectors of the economy.” For more information, click here.

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