C-COM Satellite Systems Inc.
TSX VENTURE : CMI

C-COM Satellite Systems Inc.

October 17, 2006 09:30 ET

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

OTTAWA, ONTARIO--(CCNMatthews - Oct. 17, 2006) - C-COM Satellite Systems Inc. (TSX VENTURE:CMI) today announced revenues of $1,933,408 for the quarter ending August 31st, 2006 and a net income of $206,991, or $0.007 per share compared with results from the same quarter last year, when total revenues were $1,464,884 and the net income was $85,699 or $0.003 per share.

Sales this quarter have increased by 32.0% over the same period last year, while net profit has increased by 141.5% over the same period last year. This is the 10th consecutive profitable quarter for the company.

For the three quarters ended August 31, 2006 the company has increased sales by 28.0% over the same period last year, achieving year to date sales of $5,066,815 compared with year to date sales for the three quarters ending on August 31st, 2005 of $3,959,700. Net Income has increased 136.5% to $259,904 year to date compared with $109,888 over the same period last year.

"We expect to sign up a number of new iNetVu Mobile customers in our last quarter of the fiscal year and are looking forward to another profitable year. The company continues to remain debt free with a significantly increased cash position.

The increased sales this quarter were the direct result of the large worldwide demand and acceptance of the iNetVu Mobile platforms, which are becoming the platform of choice for satellite operators and resellers around the world.

In the forthcoming quarters we will see a number of new iNetVu Mobile products released, which will be adapted to work with new satellite service providers. These new products will open up new markets and generate incremental sales for the company" 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.

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

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