Richmond, BC - MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company") (TSX: MDA), a global communications and information company, announced today it has signed a CA$10.8 million contract from Canada’s Department of National Defence (DND) to provide five years of operational support for a space-based surveillance solution being developed by MDA to provide DND with access to timely and accurate surveillance information. The contract includes three one-year options to extend the support, with a total anticipated value of the options at CA$6.3 million.
MDA has been under contract since November 2011 to develop two transportable satellite ground stations that can receive and process imagery from multiple satellites in minutes, and are capable of being rapidly deployed to any area of interest around the world. MDA expects to deliver the ground stations to DND in late 2013.
MDA is a global communications and information company providing operational solutions to commercial and government organizations worldwide.
MDA's business is focused on markets and customers with strong repeat business potential. In addition, the Company conducts a significant amount of advanced technology development.
MDA's well-established global customer base is served by more than 4,500 employees operating from 11 offices located in the United States, Canada, and internationally.
The Company's common shares trade under the symbol TSX:MDA.
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. (“MDA” or the “Company”) with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the award of a contract related to a government project. Any such forward-looking statements are based on MDA’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. The factors and assumptions underlying the forward-looking statements in this release include contracts not being terminated. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include, but are not limited to, changes in government priorities, mandates, policies, funding levels, contracts and regulations, partial or complete termination of a government funded project, partial or complete failure of a satellite or related subsystems, failure of third parties and subcontractors, failure of systems to meet performance requirements and failure to anticipate changes in technology, technical standards and offerings or compliance with the requisite standards.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online at www.sedar.com or on the Company's website at www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.