C-COM Satellite Systems Inc.

C-COM Satellite Systems Inc.

March 18, 2008 09:30 ET

C-COM Announces Fiscal 2007 Results

- 2007 revenues increase by 14.7% over 2006 to $7,349,598; - Net Profit increases 335.4% to $1,322,922 or 4.2 cents per share; - Operating Income increases 167.6% to $861,821

OTTAWA, ONTARIO--(Marketwire - March 18, 2008) - C-COM Satellite Systems Inc. (TSX VENTURE:CMI) the leading global provider of mobile auto-deploying satellite antenna systems, today announced financial results for the fiscal year ended November 30, 2007.

"C-COM had a strong financial performance in 2007" said Leslie Klein, President and CEO of C-COM Satellite Systems Inc. "Revenues have increased by 14.7% to $7,349,598 and we generated a net profit of $1,322,922 representing an increase of 335% or 4.2 cents per share compared with results from last year when total revenues were $6,408,903 and there was a net profit of $303,849 or 1 cent per share."

C-COM is recording a future income tax asset of $688,000 and a corresponding income tax recovery of the same amount on the Statements of Income and Comprehensive Income in the fiscal year ending November 30, 2007.

These positive results have been dampened by the significant increase of foreign exchange loses the company suffered due to the rise in the value of the Canadian Dollar relative to the United States Dollar in 2007. This foreign exchange loss in fiscal 2007 amounted to $299,358 representing an increase of 368.7% as compared to last year when this loss was $63,873.

This is the 15th consecutive profitable quarter for the company.

The company is also reporting an increase in operating income for the year ending November 2007 of 167.5% to $861,821 as compared to the last fiscal year when the same income was $322,236.

The working capital of the company has increased by 37.7% to $3,511,554 at fiscal year end of November 30, 2007 as compared to $2,550,513 at November 30, 2006.

The company continues to remain debt free.

"The above growth and profitability are directly attributable to the worldwide acceptance and corresponding increase in sales of our iNetVu Mobile auto-deploying antenna systems used for 2-way high-speed satellite-based Internet access. Our customer base for these products has been steadily increasing and continues to significantly contribute to our revenue growth.

These proprietary antenna systems, combined with additional new products and services to be deployed in the new fiscal year, will differentiate C-COM from other satellite-based Internet technology providers and have a potential to significantly increase our capability to generate additional revenues in 2008" said Leslie Klein, President and CEO of C-COM Satellite System Inc.

C-COM is continuing to expand its world wide reseller network for its proprietary iNetVu Mobile technology products and establishing new partnerships with companies interested in combining the capabilities of the iNetVu with the products and services they offer.

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.

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

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. Investors are cautioned against making investment decisions based on such forward-looking statements.

Contact Information