SOURCE: Northstar Electronics, Inc.

NorthStar Electronics, Inc.

November 17, 2009 12:15 ET

Northstar Electronics, Inc. (NEIK) Announces Its 2009 Third Quarter Results

VANCOUVER, BC--(Marketwire - November 17, 2009) - Northstar Electronics, Inc. (OTCBB: NEIK), specializing in aeronautics contract manufacturing and underwater sonar manufacturing, announces its 2009 third quarter results.

For the quarter ended September 30, 2009, the Company reported total revenues of USD$879,565 compared with USD$615,378 in 2008 representing an increase of 42.2% over the previous year. The Company incurred a net loss of USD$288,009 or $0.01 per share compared with a net loss of USD$332,604 or $0.01 per share for the same period in 2008, representing a decrease of 13.4%. Salary expenses (10.7% reduction) were effectively maintained where possible and material margins were tightened. The Company has striven to increase revenues quarter by quarter this year and this period further demonstrates that undertaking.

In support of increasing revenues, the Company finalized a US$800,000 Line of Credit late in the quarter thereby permitting higher volume parts production and faster turnaround on the Lockheed Martin P3 aircraft project. Additionally in the quarter, the Company received a 10% add-on to its US$2.5 million contract awarded by L-3 Communications MAPPS, Inc. The original contract, awarded in March 2009, was to manufacture 66 Standard Marine Consoles and 60 Local Operating Panels as part of its Integrated Platform Management System (IPMS) for Canada's navy patrol frigates.

Subsequent to the quarter, Northstar's subsidiary, Northstar Network Ltd., was certified to AS9100B standards by QMI, North America's leading management systems registrar. AS9100 certification is the gold standard in the aviation industry and is reserved only for aviation companies committed to providing excellent service.

Further revenue growth is expected from higher production volumes on the major contracts in the near future. Expansions to the P3 and L3 projects are also anticipated following important reviews in the next operating quarter.

Dr. Wilson Russell, Northstar's CEO, added, "Obtaining the Line of Credit at the end of the quarter was a highly significant event for the Company. It allows us to not only increase production on existing projects but also to now take on new, large contracts. In that regard, we expect, going forward, a contract from Bombardier to manufacture airplane door sets and a contract from Lockheed Martin to manufacture parts for the advanced C130J 'Super Hercules' transport airplane."

For information go to or contact Rich Kaiser, YES INTERNATIONAL, Investor Relations,, #800-631-8127 and/or Ms. Beverly Jedynak, Martin Janis & Co, Inc.,, (312) 943-1000 Ext. 12.

Safe Harbor: Included in this release are forward-looking statements within the meaning of Section 27A of the Securities Act 1993, as amended, and Section 21E of the Securities Exchange Act 1934, as amended, and is subject to safe harbor created by those sections. Although Company believes such expectations reflected in forward-looking statements are reasonable, it can give no assurance that expectations reflected in forward-looking statements will prove correct.\

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