{"id":87842,"date":"2009-12-01T19:48:28","date_gmt":"2009-12-01T13:05:25","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/com-dev-cites-management-issues-in-fourth-quarter-shortfall-replaces-canadian-division-president\/"},"modified":"2026-08-19T14:47:08","modified_gmt":"2026-08-19T06:47:08","slug":"com-dev-cites-management-issues-in-fourth-quarter-shortfall-replaces-canadian-division-president","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/com-dev-cites-management-issues-in-fourth-quarter-shortfall-replaces-canadian-division-president\/","title":{"rendered":"Com Dev Cites Management Issues in Fourth-Quarter Shortfall; Replaces Canadian Division President"},"content":{"rendered":"<p>[12-01-09] Canadian satellite manufacturer <strong>Com Dev International<\/strong>\u2019s fourth-quarter sales and profits will be $4.3 million lower than expected due to manufacturing issues with two of the company\u2019s government-related contracts, Com Dev announced Nov. 30.<br \/>\n&nbsp;&nbsp;&nbsp; The company said it underestimated the costs associated with developing the two government projects. \u201cIn addition, we have identified problems with project management processes in the division,\u201d said Com Dev CEO John Keating, in a statement.<br \/>\nCom Dev then appointed Dave Lizius president of the company\u2019s Canadian division, effective immediately. Lizius replaces former Com Dev president George Cwynar, hired in June 2008. <br \/>\n\u201cDave is a seasoned veteran of Com Dev and the space industry, and we believe he is the right person to lead the division as they address these issues, and move forward to capitalize on the government market opportunities in Canada,&#8221; said Keating.<br \/>\n&nbsp;&nbsp;&nbsp; Com Dev said it will post net income of less than $1 million on sales of $56 million to $58 million in the three-month period and will record a foreign exchange loss of $1.5 million on its currency hedges due to the strengthening of the U.S. dollar relative to the Canadian dollar during the quarter. Despite the shortfall, Com Dev said it expects to report record orders of nearly $250 million for 2009 and anticipates revenue growth of at least 10 percent in 2010.<\/p>\n<h2>Related Stories-<\/h2>\n<p>\n<b class=\"titlelink\">CSA Provides R&amp;D Funds to Space Companies<\/b>&nbsp;&nbsp; \t\t\tSatellite Today&nbsp;&nbsp; \t\t\tNovember 16, 2009<br \/>\n[11-16-09] The Canadian Space Agency (CSA) will invest more than Cdn $8 million ($7.6 million) in 26 research and development contracts with Canadian companies, the government\u2026<\/p>\n<p><b class=\"titlelink\">Com Dev Establishes Subsidiary to Offer Space-Based AIS Services<\/b>&nbsp;&nbsp; \t\t\tSatellite Today&nbsp;&nbsp; \t\t\tJune 12, 2009<br \/>\n[06-12-09] Com Dev International Ltd. has established a subsidiary company, exactEarth Ltd., that will offer advanced space-based automatic identification system (AIS-S) data services to maritime authorities around the world, Com\u2026<\/p>\n<p><b class=\"titlelink\">New U.S. Foreign Affairs Bill May Ease ITAR Restrictions<\/b> \t\t \t\t\t&nbsp;<img loading=\"lazy\" decoding=\"async\" width=\"12\" height=\"14\" align=\"top\" src=\"..\/..\/..\/..\/images\/icon_lock.gif\" alt=\"\">&nbsp;&nbsp; \t\t\tSatellite News&nbsp;&nbsp; \t\t\tApril 3, 2009<br \/>\n[04-03-09] The Aerospace Industries Association (AIA) is supporting a new version of the U.S. Foreign Affairs Bill which eases satellite export controls outlined in International Traffic in Arms Regulations (ITAR), AIA Spokeswoman\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[12-01-09] Canadian satellite manufacturer Com Dev International\u2019s fourth-quarter sales and profits will be $4.3 million lower than expected due to manufacturing issues with two of the company\u2019s government-related contracts, Com Dev announced Nov. 30. &nbsp;&nbsp;&nbsp; The company said it underestimated the costs associated with developing the two government projects. \u201cIn addition, we have identified problems [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-87842","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/87842"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=87842"}],"version-history":[{"count":1,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/87842\/revisions"}],"predecessor-version":[{"id":88013,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/87842\/revisions\/88013"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=87842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=87842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=87842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}