Globecomm Earnings Waaaay Up

Globecomm Systems Inc. [NASDAQ: GCOM] has announced their financial results for the fiscal 2008 first quarter, ended September 30, 2007. Highlights of the Company’s results reveal GAAP earnings per diluted share of $0.16 in the fiscal 2008 first quarter, as compared to GAAP earnings per diluted share of $0.06 in the same period last year. Their pro-forma earnings per diluted share increased 200 percent to $0.18 in the fiscal 2008 first quarter, as compared to pro-forma earnings per diluted share of $0.06 in the same period last year. Excluded from the pro-forma earnings were non-cash charges for share-based compensation and amortization of intangibles relating to an acquisition. The company’s consolidated revenues increased 64.6% to $42.3 million in the first quarter of fiscal 2008 as compared to $25.7 million in the same period last year and service revenues increased 88.2% to a record $15.5 million, as compared to $8.3 million in the same period last year. Additional details regarding Globecomm’s financials may be found at their website—Hauppauge, New York