COM DEV International Ltd. (TSX:CDV) announced its third quarter financial results for the three-month period ended July 31, 2009.  All amounts are stated in Canadian dollars unless otherwise noted.  Third quarter highlights include...

• Revenue was $61.5 million, an increase of 19% over the $51.5 million recorded in the third quarter of 2008.
 
• Gross margin was 29%, compared to 26% in Q3 2008.
• Net income was $5.2 million, or $0.07 per share, compared to $4.3 million or $0.06 per share for the prior year period.
• New orders won in the third quarter totaled $45 million, compared to $95 million a year earlier and $50 million in the second quarter of fiscal 2009.
• Backlog at July 31, 2009 was $156 million, compared to $173 million three months earlier.
• During the quarter the Company established a subsidiary, exactEarth™ Ltd, to implement full commercialization of its space-based AIS technology.

“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,” said 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.  For fiscal 2009 we remain on track to achieve record orders and revenue growth of at least 15 percent.” To read the entire financial report, access this direct link.