Net Profit increases 434.5% to $213,587 or 0.7 cents per share;
Operating Income increases 6.8% to $172,245.
OTTAWA, ONTARIO--(Marketwire - July 22, 2008) - C-COM Satellite Systems Inc. (TSX VENTURE:CMI)today reported revenues of $1,822,662 for its second quarter ending May 31st, 2008 which represents an increase of 16.9% over the same period last year.
The company is also reporting an operating income of $172,245, an increase of 6.8% or 0.5 cents per share, compared with results from the same quarter last year, when total revenues were $1,558,591 and there was an operating profit of $161,365 or 0.5 cents per share.
Net income for the quarter ended May 31, 2008 is $213,587 as compared with reported net income of $39,957 for the same period last year. This represents an increase of 434.5% which is largely due to variations in foreign exchange effects in the comparable quarters. This is the 17th consecutive profitable quarter for the company.
The company continues to remain debt free with a healthy cash position.
"Our revenue increase and associated profitability in this quarter are due mainly to new sales of the iNetVu Mobile antenna systems to the oil and gas exploration sector as well as to sales into new vertical markets we have established in the Asia Pacific Rim countries.
We are starting to see more and more demand for our iNetVu Mobile antennas in countries like China, India and Pakistan" said Leslie Klein, President and CEO of C-COM Satellite Systems Inc.
About C-COM Satellite Systems, Inc.
C-COM Satellite Systems, Inc. is a leader in the development and deployment of mobile satellite-based technology for the delivery of two-way high-speed Internet services into vehicles or other mobile structures. The C-COM developed proprietary Mobile self-pointing (iNetVu(TM)) Antenna System allows the delivery of high-speed satellite based Internet services into mobile environments, while stationary; virtually anywhere where one can drive. The iNetVu Mobile antenna has also been adapted to be deployable from transportable platforms. The iNetVu Mobile units are available in 6 different sizes, interface with a large number of readily available satellite modems and mount easily on top of vehicles or inside transportable platforms. The iNetVu Mobile uses a standard 12 Volt DC power source. It can be activated with a simple push of a button or with a click of the mouse, deploys automatically, locks on to the selected satellite in a few minutes and delivers 2 way broadband Internet access, VoIP and Video services virtually anywhere in the world.
iNetVu(TM) is a registered trademark of C-COM Satellite Systems Inc.
FOR FURTHER INFORMATION PLEASE CONTACT:
C-COM Satellite Systems Inc.
613-745-4110 ext. 4950