January 13, 2011 / 9:51 PM / 7 years ago

UPDATE 1-Com Dev posts Q4 loss on restructuring charge

2 Min Read

* Q4 loss C$0.2/shr vs EPS C$0.01 year ago

* Revenue falls 12 pct

Jan 13 (Reuters) - Canadian satellite technology company Com Dev International Ltd (CDV.TO) posted a fourth-quarter loss, hurt by a C$3 million restructuring charge, and said it expects to see its bottom line improve in 2011.

"We currently expect 2011 revenues to be relatively flat compared to 2010, but improved margin and operating expense performance should enable us to show significant bottom line improvement over the year," Chief Executive Mike Pley said in a statement.

Com Dev earned C$2.7 million, or 4 Canadian cents a share in 2010. It posted revenue of C$220.9 million.

For the August-October quarter, the company posted a loss of C$1.9 million or 2 Canadian cents a share. That compares with net income of C$900,000, or 1 Canadian cent a share, in the year-ago period.

Revenue fell to C$51.5 million from C$58.3 million.

The space hardware maker said orders in the fourth quarter totaled C$80 million, up from C$67 million last year.

Shares of the Cambridge, Ontario-based company, which have gained 12 percent in value since getting a C$6 million satellite contract in October, closed at C$2.36 on Thursday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Prem Udayabhanu) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))

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