COM DEV ends Q3 in good space

CAMBRIDGE — With a 19% jump in Q3 revenue at July 31, COM DEV International Ltd. is anticipating at least a COM_DEV-logo185X36.JPG15% increase in revenue year-over-year by the end of its fiscal year. Third quarter revenue for the company, which designs and builds antennas, satcom units and other equipment for use in space, was $61.5 million. Gross margin was 29%, compared to 26% in Q3 2008 and et income was $5.2 million,compared to $4.3 million for the prior year period.
"Excellent operational performance in the third quarter allowed us to deliver our best gross margin percentage in over two years, and our best ever in dollar terms," says John Keating, CEO of COM DEV. "Our business development team has been very busy pursuing new contracts as satellite order activity has been very healthy."
COM DEV received new orders totaling $45 million during the quarter, of which 60% were commercial, 23% were civil, and 17% were military. In Q3 2008 the Company booked $95 million of new orders, with a split of 38/43/19 among commercial/civil/military.
Order backlog at quarter-end was $156 million, compared to a backlog of $173 million three months earlier, and $161 million one year ago. Click here for more info on COM DEV results.

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