C-Com Satellite earns $130,183 in Q3
C-COM SATELLITE Systems Inc. released financial results for its third quarter ended Aug. 31, 2017. The company has generated revenues of $2,341,016 and a net after tax profit of $130,183 or 0 cents per share. This compared to revenues of $2,094,710 and a net after tax profit of $29,579 or 0 cents per share as reported in Q3 2016, representing an increase of 11.8 per
cent and 340.1 per cent respectively.
The working capital of the company has decreased by 1.7 per cent to $19.24-million at Aug. 31, 2017, as compared to $19.57-million at Aug. 31, 2016.
The company also announced the payment of its quarterly-eligible dividend in the amount of 1.25 cents per common share payable on Nov. 13, 2017, to all shareholders of record as of Oct. 30, 2017. Based on the closing price of $1.07 per share on Oct. 11, 2017, this dividend represents a yield of 4.67 per cent on an annualized basis. This is the company’s 22nd consecutive quarterly dividend and its 26th consecutive profitable quarter.
“The third quarter results indicate continued worldwide customer acceptance in our growing and innovative product line of mobile antenna systems”, said Leslie Klein, president and chief executive officer of C-COM Satellite Systems. The sales of our legacy and new generation products continue to grow. We are investing a significant amount into research and development for our highly ambitious and revolutionary flat panel antenna project, which is a joint effort with the University of Waterloo," Klein continued. C-COM Satellite Systems is a world leader and pioneer in the development, manufacture and design of commercial grade, mobile satellite-based technology for the delivery of broadband Internet to any location via satellite. C-COM has developed proprietary, one-button, auto-acquisition controller technology that allows the user to find satellite with just the press of a button and deliver and receive broadband Internet where terrestrial infrastructure is lacking, or simply do not exist. The company has sold almost 8,000 systems into over 100 countries around the world in vertical markets such as oil and gas exploration, military communications, disaster management, SNG, emergency communications, cellular backhaul, telemedicine, mobile banking, and others. The company’s iNetVu brand is synonymous with high-quality, reliability and cost-effectiveness.
C-COM is also involved in the design and development of a new generation of Ka-band (communications on the move) antennas, which will deliver satellite broadband solutions into vehicles while in motion.
iNetVu is a registered trademark of C-COM Satellite Systems Inc.
We seek Safe Harbor.
Eliahu Tzion Fathi, Leslie Klein, Ronald A Leslie, Arunas Slekys
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