October 20, 2010 / 11:34 AM / 9 years ago

UPDATE 1-Com Dev gets C$6 mln satellite contract

* Says 4-satellite pact has potential value above C$23 mln

* Expects to complete current deal by end of fiscal 2011

Oct 20 (Reuters) - Canadian satellite technology company Com Dev International Ltd (CDV.TO) said it got a contract, valued at over C$6 million, to provide switches, multiplexers and filters for a commercial communications satellite.

The contract represents the third order resulting from a four-satellite agreement with a total potential value in excess of C$23 million, the company said in a statement.

The space hardware maker expects to complete work on the current contract by the end of fiscal 2011 at its facility in Cambridge, Ontario.

Com Dev shares have gained about 15 percent of their value since the company slashed its workforce by 5 percent after exiting certain unprofitable businesses in September. [ID:nSGE6811C0]

They closed at C$2.11 Tuesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below