C-COM Satellite Systems Inc.

C-COM Satellite Systems Inc.

April 27, 2010 09:30 ET

C-COM Reports Increased Sales and Profits in its First Quarter

OTTAWA, ONTARIO--(Marketwire - April 27, 2010) - C-COM Satellite Systems Inc. (TSX VENTURE:CMI) the leading global provider of mobile auto-deploying satellite antenna systems, today announced financial results for its first quarter ending February 28, 2010.

Revenues have increased by 13.5% to $1,681,385 compared with results from the same period last year, when total revenues were $1,481,638. The company is reporting a net profit of $36,329, or 0.01 cent per share, compared with results for the same period last year when there was a net profit of $266, or 0.0 cent per share.

"The company's first quarter sales are traditionally slow, however this year we have seen a change in the economic climate for the better and this has translated into more orders in the first quarter than in the prior year, both from existing as well as new customers from around the world, indicating world wide acceptance and continuous demand for the product.

This is C-COM's 24th consecutive profitable quarter and we continue to remain free of long term debt with a significant cash position. The company has recorded an accrual for future income tax payable, due to expected future earnings" said Leslie Klein, President and CEO of C-COM Satellite Systems Inc.

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 mobile satellite-based technology for the delivery of two-way high-speed Internet services into vehicles and mobile structures. The C-COM developed proprietary auto-deploy (iNetVu®) Antenna Systems deliver satellite broadband Internet services into mobile environments, while stationary; virtually anywhere where one can drive. The iNetVu® Mobile antennas can also be deployed from flyaway and 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. For additional information please visit www.c-comsat.com

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.

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