October 16, 2013
C-COM Satellite
Systems Inc., announced financial results for
its third quarter ending August 31, 2013.
The company is
reporting a net profit of $353,978 or 1.0 cent
per share compared with results for the same
period last year when there was a net profit of
$65,625, or 0.2 cents per share. The working
capital of the company increased by 27% to
$17,271,614 at August 31, 2013 compared to
$13,577,437 at August 31, 2012.
Revenues increased by
25% when compared with results from the same
period last year, when total revenues were
$2,463,351. The operating profit increased to
$488,804 compared with the same period last year
when the operating profit was $285,033.
For the nine months
ended August 31, 2013 the company is reporting a
net profit of $2,228,279 or 6.4 cents per share
compared with results for the same period last
year when there was a net profit of $891,536, or
2.6 cents per share. Revenues increased by 40%
for the nine months ended August 31, 2013 to
$11,798,977 when compared with results from the
same period last year when total revenues were
$8,443,307. The operating profit increased to
$2,940,837 for the period ended August 31, 2013
compared with the same period last year when the
operating profit was $1,258,874.
“We are pleased with
the third quarter results, which reaffirm strong
customer support across our entire product line.
C-COM is one of the first mobile antenna
manufacturers that started delivering its next
generation iNetVu® Ka-band mobile antennas to
customers in the US, Europe the Middle East and
Africa.
We are the only
company in the world to date with antenna
approvals for this technology from all of the
major Ka satellite providers and we expect to
remain the market leader in this rapidly
expanding sector.
The company continues
to be free of long term debt with a significant
cash position” said Leslie Klein, President and
CEO of C-COM Satellite Systems Inc.
The C-COM board has approved a 25% increase in
dividend payments which amounts to 1.25 cents a
share per quarter or 5 cents a share per annum.
The payment of an
eligible dividend in the amount of $0.0125 per
common share payable on November 13, 2013 to all
shareholders of record as of October 30, 2013.
Based on its closing price of $2.12 per share on
October 15 2013, this dividend would provide a
yield of 2.36% on an annualized basis. This
dividend is part of the Company's ongoing
practice of returning value to its shareholders
through a quarterly dividend.
