[Satellite TODAY 01-16-12] Satellite components manufacturer Com Dev earned $5.1 million in profit and $49.9 million in revenue in its 2011 fourth-quarter, compared with a net loss of $1.9 million on $51.5 million in revenue during the same period last year, according to the company’s latest financial results issued Jan.13.

            The Ontario-based company said it won $54 million in new orders during the fourth quarter, compared with $79 million a year earlier and $47 million in the third quarter of 2011.

“I am pleased with the progress we made during the year, but we still have work to do to reach the level of sustainable profitability this organization is capable of delivering. A slowdown in orders in the civil space sector contributed to reduced revenues, but we have taken steps to properly size the business and focus our efforts on available opportunities,” Com Dev CEO Michael Pley said in statement.

            Com Dev ends 2011 with a profit of $13.6 million – a considerable increase from the $2.7 million in profits it reported at the end of 2010.