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Com Dev, International Road and Kelso Technologies: Today in Canadian Tech

Com Dev CEO Michael Pley. The Cambridge based manufacturer of space hardware today announced it has added Lockheed Martin to its client list.
Com Dev CEO Michael Pley. The Cambridge based manufacturer of space hardware today announced it has added Lockheed Martin to its client list.
Com Dev CEO Michael Pley. The Cambridge based manufacturer of space hardware today announced it has added Lockheed Martin to its client list.

Com Dev (TSX:CDV) reported that its US subsidiary added Lockheed Martin as a customer. While the first order placed by Lockheed Martin is less than $1 million, management says it allows Com Dev USA to demonstrate its capabilities to Lockheed Martin in a tangible way. The contract includes design, space qualification and production of high-power, microwave flight hardware. Dan White, president of Com Dev USA, said: “We are thrilled to be able to call Lockheed Martin our customer. After three years in the market here in California, we have become a solid, reliable tier-2 equipment supplier to the space industry in the United States. Adding Lockheed Martin as a customer is something we have been targeting for some time, and receiving this initial order is very satisfying. We look forward to a long and productive relationship with Lockheed Martin.” Shares of Com Dev closed today up .5% to $2. More…

MacDonald Dettwiler (TSX:MDA) released its fiscal 2011 results. Revenues were $761 million, 11% better than the previous year’s $688 million. Earnings of $2.99 a share compared favourably to 2010’s $2.44 per share. Shares of MacDonald Dettwiler closed today down .8% to $44.55. More…

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Kelso Technologies (TSXV:KLS) reported its Q1, 2012 results. Revenue came in at $180,240, besting the $113,488 the company did in the same period a year prior. Kelso’s loss widened, however, to $439,986 from $229,872 in Q1, 2011. Management says the losses are “are indicative of a company with new industrial products being introduced into an old and established railroad marketplace.” Shares of Kelso closed today down 2.9% to $.66 cents. More…

International Road Dynamics (TSX:IRD) reported its fiscal 2011 results. Revenue was down, to $39.1-million from $44.5-million in fiscal 2010. IRD President and CEO Terry Bergan said: “Our results in 2011 reflect the slowing global economy and the resulting delayed investment by governments in highway and roadway infrastructure. However, based on the volume of opportunities we believe are currently available in our markets, and the orders received during and subsequent to the fourth quarter of the year, we expect to see improved results over the near term…” Shares of International Road Dynamics closed today up 6.1% to $.35 cents. More…

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About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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