Shares of COM DEV (TSX:CDV) have been on the rise for the better part of a year, but some of the people who know the company best think the party’s not over.
Mike Williams. President, COM DEV International Products has been buying the stock in the open market.
On April 26th, Williams bought 2600 shares at $3.74 and $3.75. He added another 500 shares at $3.75 on April 29th, and 6900 more at $3.69 on April 30th.
Williams was joined by insider Charles Fox, who acquired 2700 shares at $3.70, on April 26th.
Earlier this month, Dan White, President of COM DEV USA, sold 1000 shares at $3.56, and insider David Martin sold 702 shares at $3.85.
COM DEV has been rising on the back of better numbers and an increased order backlog. The company’s Q1, 2013 report revealed revenue of $52.3 million, which was a 10.7% increase from the $47.2 million the company posted a year prior. The company’s bottom line improved, too. Net income was $4.6-million, or six cents a share, up from five cents in 2012.
The company’s order backlog, as of January 31st, was $148 million, up from $125.3 million last year.
Cambridge, Ontario-based COM DEV specializes in space-based wireless communications products and electronic and optical instruments for Earth observation. The company’s products are sold to satellite contractors and government space agencies for use in military and defense, space satellites and commercial communications.
At press time, shares of COM DEV were up 1.6% to $3.73.