COM DEV INTL LTD (CDV.TO)

CDV.TO announced its third quarter of FY06 (Aug. 06) results after market closing and it was, again, a great quarter. Both revenues and EPS ($0.10 vs. $0.06) meaningfully exceeded expectation and the company raises its revenue guidance from previously 15% to 20% (after raising from 10% to 15% after second quarter). Backlog remains strong, balance sheet is clean. The company also provides initial FY07 revenue growth of at least 10% over FY06. Industry trend is also very encouraging as a signficiant number of satelites globally require upgrade and replacement. There's hardly anything not to like. The stock probably will pop a bit tomorrow and if I probably will trim my position a bit.

Position: Long CDV.TO (see previous posting here)