C-COM… Financially Speaking…

[SatNews] C-COM Satellite Systems Inc., (TSXV: CMI) has announced financial results for its third quarter ending August 31, 2011.

Revenues increased by 64.5 percent to $4,543,764 compared with results from the same period last year, when total revenues were $2,762,374. The company is reporting a net profit of $812,561 or 2.4 cents per share, compared with results for the same period last year when there was a net profit of $467,350, or 1.4 cents per share. The operating profit increased to $1,053,556, compared with the same period last year when the operating profit was $600,374. The working capital of the company increased by 52.5 percent to $11,525,462 at August 31, 2011 compared to $7,557,614 at August 31, 2010.

“The year to date revenues and the corresponding operating profit are the largest ever reported in the company’s history” said Leslie Klein, President and CEO of C-COM Satellite Systems Inc. “To some extent this is as a result of the multiple hundreds of iNetVu® mobile system sales into Japan to deliver life saving satellite backhaul for cellular communications to the tsunami effected regions of the country. However, we have also seen an upsurge of orders in the first nine months of this year, both from existing as well as new customers from around the world, indicating increased world wide acceptance and continuous demand for our iNetVu® mobile products.”

The C-COM iNetVu® mobile proprietary antennas, and services associated with these products, are used in mobile applications by corporations, government agencies, the military, law enforcement agencies, homeland security, utility vehicles, oil and gas platforms, police, fire, medical and other security and emergency services with a need for affordable mobile two-way high-speed Internet over Satellite connectivity.