C-COM Satellite Systems Inc.

C-COM Satellite Systems Inc.

October 10, 2007 09:30 ET

C-COM Reports Record Sales and Profits in its Third Quarter

OTTAWA, ONTARIO--(Marketwire - Oct. 10, 2007) - C-COM Satellite Systems Inc. (TSX VENTURE:CMI) today announced revenues of $2,631,090 for the quarter ending August 31st, 2007 and a net income of $570,232, or $0.018 per share compared with results from the same quarter last year, when total revenues were $1,933,408 and the net income was $206,991 or $0.007 per share.

Sales this quarter have increased by 36.0% over the same period last year, while net income has increased by 175.5% over the same period last year. This is the company's 14th consecutive profitable quarter as well as its largest and most profitable to date.

For the three quarters ended August 31, 2007 the company has increased sales by 11.5% over the same period last year, achieving year to date sales of $5,653,229 compared with year to date sales for the three quarters ending on August 31st, 2006 of $5,066,815. Net Income has increased 147% to $641,797 year to date compared with $259,904 over the same period last year.

"The record sales and profitability of this quarter can be attributed to the increasing demand for the company's flagship iNetVu Mobile Antenna products which are becoming the products of choice to satellite service providers and resellers world wide.

We anticipate receiving a significant portion of new orders in our forthcoming quarters from China where our products have been exceptionally well received. We are also seeing an increased world wide demand for the iNetVu Mobile products from the resource sector as well as the military.

The company continues to remain debt free with a significantly increased cash position and expects continued profitability in its last quarter" 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 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 antenna has also been adapted to be deployable from transportable platforms. 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: 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. 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • C-COM Satellite Systems Inc.
    Investor Relations
    613-745-4110 ext. 4950