Friday, May 09, 2008 5:27:16 PM
Company increases 2008 revenue guidance
EL SEGUNDO, CA, May 9 /CNW/ - COM DEV USA, LLC, a subsidiary of COM DEV
International Ltd. (TSX: CDV), today announced that it has closed its
previously announced US$12.2 million acquisition of the Passive Microwave
Devices product line from L-3 Communications.
"This acquisition has established COM DEV USA as the leading supplier of
passive microwave equipment for the US Government space market," said Dan
White, President of COM DEV USA. "We look forward to working with our new
team, who will add depth to our skilled workforce and help us aggressively
grow our US business."
COM DEV International has increased its guidance to 15 to 20% revenue
growth in fiscal 2008, compared to guidance of 10 to 15% growth prior to the
acquisition.
The Passive Microwave Devices product line has been active in more than
100 US satellite programs, producing and designing space qualified components
including multiplexers, filters, switches and ancillary components. Through
the acquisition, COM DEV gains 65 skilled employees and a rich portfolio of
intellectual property, including more than 100 patents cultivated over the
product line's 35-year history.
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global
designer and manufacturer of space hardware subsystems. With facilities in
Canada, the United Kingdom and the United States, COM DEV manufactures
advanced products and subsystems that are sold to major satellite prime
contractors for use in communications, space science, remote sensing and
military satellites.
COM DEV and COM DEV USA are registered trademarks of COM DEV
International Ltd. 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.
%SEDAR: 00003673E
For further information: Gary Calhoun, Chief Financial Officer, COM DEV
International, Tel: (519) 622-2300 ext. 2826, gary.calhoun@comdev.ca; Dan
White, President, COM DEV USA, Tel: (424) 456-8006, dan.white@comdev-usa.com;
Jeff Codispodi, The Equicom Group, Tel: (416) 815-0700 ext. 261,
jcodispodi@equicomgroup.com
http://www.newswire.ca/en/releases/archive/May2008/09/c7119.html
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