C-COM Reports Increased Sales And Profits In Its First Quarter

April 27, 2009

C-COM Satellite Systems Inc. announced financial results for its first quarter ending February 28, 2010.

Revenues have increased by 13.5% to $1,681,385 compared with results from the same period last year, when total revenues were $1,481,638. The company is reporting a net profit of $36,329, or 0.01 cent per share, compared with results for the same period last year when there was a net profit of $266, or 0.0 cent per share.

“The company’s first quarter sales are traditionally slow, however this year we have seen a change in the economic climate for the better and this has translated into more orders in the first quarter than in the prior year, both from existing as well as new customers from around the world, indicating world wide acceptance and continuous demand for the product.

This is C-COM’s 24th consecutive profitable quarter and we continue to remain free of long term debt with a significant cash position. The company has recorded an accrual for future income tax payable, due to expected future earnings” said Leslie Klein, President and CEO of C-COM Satellite Systems Inc.