C-COM Posts Record Third Quarter Sales and Profits
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwire) -- 10/25/11 -- C-COM Satellite Systems Inc. (TSX VENTURE: CMI)
C-COM Satellite Systems Inc., (TSX VENTURE: CMI) a leading global provider of mobile auto-deploying satellite antenna systems, today announced financial results for its third quarter ending August 31, 2011.
Revenues increased by 64.5% to $4,543,764 compared with results from the same period last year, when total revenues were $2,762,374. The company is reporting a net profit of $812,561 or 2.4 cents per share, compared with results for the same period last year when there was a net profit of $467,350, or 1.4 cents per share.
The operating profit increased to $1,053,556, compared with the same period last year when the operating profit was $600,374.
The working capital of the company increased by 52.5% to $11,525,462 at August 31, 2011 compared to $7,557,614 at August 31, 2010.
"The year to date revenues and the corresponding operating profit are the largest ever reported in the company's history" said Leslie Klein, President and CEO of C-COM Satellite Systems Inc. "To some extent this is as a result of the multiple hundreds of iNetVu® mobile system sales into Japan to deliver life saving satellite backhaul for cellular communications to the tsunami effected regions of the country. However, we have also seen an upsurge of orders in the first nine months of this year, both from existing as well as new customers from around the world, indicating increased world wide acceptance and continuous demand for our iNetVu® mobile products."
The C-COM iNetVu® mobile proprietary antennas, and services associated with these products, are used in mobile applications by corporations, government agencies, the military, law enforcement agencies, homeland security, utility vehicles, oil and gas platforms, police, fire, medical and other security and emergency services with a need for affordable mobile 2-way high-speed Internet over Satellite connectivity.
About C-COM Satellite Systems Inc.
C-COM Satellite Systems Inc. is a leader in the development and deployment of commercial grade mobile satellite-based technology for the delivery of two-way high-speed Internet, VoIP and Video services into vehicles. C-COM has developed a unique proprietary Mobile auto-deploying (iNetVu®) antenna that allows the delivery of high-speed satellite based Internet services into vehicles while stationary virtually anywhere where one can drive. The iNetVu® Mobile antennas have also been adapted to be airline checkable and easily transportable. The company's satellite-based products and services deliver high-quality, cost-effective solutions for both fixed and mobile applications throughout the world. More information is available at:
iNetVu® is a registered trademark of C-COM Satellite Systems Inc.
Forward Looking Statements
This news release contains forward-looking information. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. New orders anticipated by C-COM Satellite Systems Inc. may not be received and current orders may be cancelled. New products and services released may not gain market acceptance. Any of those events could have an effect on future performance and C-COM Satellite Systems Inc.'s ability to achieve the results mentioned above. These forward-looking statements are made as of the date hereof and C-COM Satellite Systems Inc. does not assume any obligation to update or revise them to reflect new events or circumstances.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Investor Relations
C-COM Satellite Systems Inc.
(613) 745-4110 ext. 4950
(613) 745-1172 (FAX)
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Datum: 25.10.2011 - 13:30 Uhr
Sprache: Deutsch
News-ID 79919
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contact information:
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OTTAWA, ONTARIO
Kategorie:
Networking
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