[Satellite TODAY 08-30-10] Canadian satellite technology company Com Dev International will post a net loss of about $1.6 million in its 2010 third quarter, compared with a net income of $4.89 million in the same period last year, according to its preliminary results, issued Aug. 27.
    The company said it was hurt by higher costs during the quarter, with revenues falling 15 percent to $49 million. The fall in profits caused Com Dev to lower its revenue projections for 2010. The company now expects revenues to be 5 percent lower than its 2009 results.
    In a statement, Com Dev CEO John Keating said that its programs had a negative gross margin impact of $6.31 million in the quarter. The programs, now 86 percent completed, represent a steadily decreasing proportion of its revenues, falling from 5 percent from the last quarter to 2 percent of revenues by the second half of next year.
    “Our results in the third quarter were affected by continuing cost growth on the five programs that have recently proved troublesome for us,” Keating said.