June 9, 2011 / 8:35 PM / 7 years ago

UPDATE 1-Com Dev Q2 falls on higher costs, revenue delays

* Q2 EPS C$0.04 vs C$0.05 year ago

* Revenue falls 10 pct to C$54.2 mln

* Sees FY11 rev to be flat (Follows alerts)

June 9 (Reuters) - Com Dev International posted a decline in second-quarter results as higher costs and delays in revenue from certain customer programs hurt the Canadian satellite hardware maker.

The Cambridge, Ontario-based company expects this year’s revenue to be relatively flat compared to last year, partly due to the existing order backlog, which was C$128 million at the end of April, unchanged from the comparable period past year.

Second-quarter income was C$3 million, or 4 Canadian cents a share, compared to C$4.1 million, or 5 Canadian cents a share, a year ago.

Revenue fell 10 percent to C$54.2 million.

Analysts on average had expected earnings of 4 Canadian cents, on revenue of C$54.7 million, according to Thomson Reuters I/B/E/S.

Shares of the company closed at C$2.52 on Thursday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Gopakumar Warrier)

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