C-Com Satel­lite earns $130,183 in Q3

Stockwatch Daily - - TECHNOLOGY & TELECOM - An anony­mous di­rec­tor re­ports

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

(CMI) Shares: 36,724,550

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