C-COM Satellite Systems Inc.

C-COM Satellite Systems Inc.

July 15, 2009 09:30 ET

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

OTTAWA, ONTARIO--(Marketwire - July 15, 2009) - C-COM Satellite Systems Inc. (TSX VENTURE:CMI)

Q2 revenues increase by 78% over 2008 to $3,238,156;

Year-to-date revenues increase by 40% to $4,719,478;

Operating Income increases 415% to $887,877;

Net Income increases 135% to $501,432 or 1.5 cents per share;

C-COM Satellite Systems Inc. (TSX VENTURE:CMI) today reported revenues of $3,238,156 for its second quarter ending May 31st, 2009 which represents an increase of 78% over the same period last year.

The company is also reporting an operating income of $887,877, an increase of 415% or 2.7 cents per share, compared with results from the same quarter last year, when total revenues were $1,822,662 and there was an operating profit of $172,245 or 0.5 cents per share.

Net income for the quarter ended May 31, 2009 is $501,432 as compared with reported net income of $213,587 for the same period last year, which represents an increase of 135%. This is the 21st consecutive profitable quarter for the company.

The working capital of the company has increased to $6,437,335 from $3,892,691 over the same period in 2008.

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 sales of the iNetVu Mobile antenna systems 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 antennas from countries like China, India, Vietnam 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 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.

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.

Contact Information

  • C-COM Satellite Systems Inc.
    Investor Relations
    613-745-4110 ext. 4950
    613-745-7144 (FAX)