...disclosed programs that have had a negative impact on the Company’s financial results has been shipped. These programs were executed under fixed-cost contracts and experienced non-recoverable cost escalations. “We are very pleased to have completed all five of these programs to the satisfaction of our customers,” said Gary Calhoun, CFO of COM DEV International. “Since 2009, the impact of these programs to our bottom line was over $25 million. We expect no noticeable impact from this last program in our recently completed fourth quarter.”

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“Completing these programs was a significant focus for me in my first two years as CEO,” said Michael Pley, CEO of COM DEV. “As well as the effect on our financial results, valuable capacity was tied up that can now be deployed on profitable projects. We have learned some valuable lessons as an organization and have implemented processes to minimize the chance of reoccurrence,” Michael Pley added. “We will continue to apply the financial and production discipline that has resulted in the positive results we have reported in recent quarters, and profitably grow the Company.”