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Norsat International Inc. Announces Recent Contract Orders

 

 

4 October 2010

 

Norsat International Inc. has received several contracts for Norsat satellite terminals in support of U.S. Government organizations in recent weeks, with a total value in excess of $4.2 million. Compared to the prior year, these orders were received late in the third quarter and are expected to ship during the fourth quarter. Due to the timing of these orders, revenues for the third quarter ended September 30, 2010 are anticipated to be below levels reported in 2009. The Company expects third quarter results to remain profitable when announced on October 28, 2010.

 

Dr. Amiee Chan, President and CEO of Norsat, stated, “I’m pleased with these recent contract wins. While the timing is something we can not control and can disrupt quarterly results at times, the key importance for us is that these orders have been placed, are funded and are now in our backlog. Particularly satisfying are that several of these orders are for new products that we have developed in consultation with customers. We look forward to releasing these new products to the general market in the fourth quarter. I believe that these wins are a direct result of how Norsat can leverage its strengths, especially by listening to what our customers are seeking and delivering on their exacting requirements.”