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Financially Speaking… Norsat International Inc…

Norsat International Inc. (“Norsat”) (TSX: NII and OTC BB: NSATF) has announced the Company’s financial results for the three- and nine-month periods ended September 30, 2008. All financial results are in U.S. dollars unless otherwise stated.

Q3 2008 Summary…
  • Revenue increased to $4.9 million from $3.8 million in Q3 2007
  • Gross margin was 48 percent, compared to 50% in Q3 2007
  • Net earnings increased to $0.7 million or $0.01 per share, from net earnings of $0.2 million, or $0.00 per share in Q3 2007
  • Won a $5.5 million U.S. Department of Defense satellite systems contract
  • Launched first product in vehicle mount satellite terminal family and received orders from the U.S. military and an Asian broadcasting network
  • Awarded $5.97 million repayable investment through the Canadian Government’s Strategic Aerospace and Defence Initiative (SADI)
  • Established an Italian subsidiary to pursue European maritime satellite systems opportunities
  • Entered into a strategic partnership with Navisystem Marine Electronics S.R.L.
  • Subsequent to quarter end, established a WiMAX business unit to pursue satellite-enabled WiMAX opportunities in Asia, Africa and South America
  • Subsequent to quarter end, realized $219,375 in proceeds resulting from the exercise of warrants granted through the company’s Employee Share Purchase Plan
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