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Gold/Mining/Energy : Com Dev International
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To: Ron Schier who wrote (10)6/5/1998 2:58:00 PM
From: Trader Bob  Read Replies (1) of 216
 
Down $6.90 at 16.35 CAD

Earnings came in I believe at 0.02, I think street looking in the .15 range, company to comment this afternoon..... follows,... sorry about formatting.....from dow jones telerate.....


Com Dev International Ltd.'s (T.CDV) wireless division will continue to see
some slowness "over the next couple of quarters," company chief financial
officer David Belbeck told Dow Jones.
Belbeck said the outlook over the longer-term is "robust" for the wireless
market.
On the space side of the company, the merger between Motorola Inc. (MOT) and
Teledesic pushes into early next year the contract revenues that Com Dev is
currently spending money on, said Val O'Donovan, Com Dev's chairman and chief
executive.
"We had expected that we would have some of those contracts this year. In the
meantime we continue to spend our product development money," O'Donovan said.
O'Donovan said that despite the delay, the merger of Motorola and Teledesic
is positive in that the risk of the satellite project being cancelled is
reduced as a result of having two big names behind it.
The executives declined to give any kind of financial outlook for the second
half of Com Dev's fiscal year.
Belbeck also refused to say if wireless sales have improved in the third
quarter. Com Dev's second quarter ended April 30.


Bob
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