Business
C-COM Reports 14th Consecutive Profitable Year and Q4 Results
Ottawa, Ontario--(Newsfile Corp. - March 26, 2019) - C-COM Satellite Systems Inc. (TSXV: CMI),...
About this update from C-com Satellite Systems Inc.
[{"type":"text","content":"C-COM Reports 14th Consecutive Profitable Year and Q4 ResultsRevenues increase by 31.6% to $13,527,368; Operating Profit increases 95.8% to $2,920,237; Net Profit increases 122.0% to $2,299,501 or 6 cents per shareOttawa, Ontario--(Newsfile Corp. - March 26, 2019) - C-COM Satellite Systems Inc. (TSXV: CMI), a leading global provider of mobile auto-deploying satellite antenna systems, announced today financial results for the fiscal year ended November 30, 2018.The Company has generated revenues of $13,527,368 and a net after tax profit of $2,299,501 or 6 cents per share. This compared with revenues of $10,282,319 and a net after tax profit of $1,035,744 or 3 cents per share as reported in 2017, representing an increase of 31.6% and 122.0% respectively. The working capital of the Company has increased by 4.6% to $20,580,939 at November 30, 2018 as compared to $19,685,820 at November 30, 2017. The Company paid out $1,851,878 in dividends during fiscal 2018 compared to $1,833,978 in fiscal 2017 representing a 1.0% increase. Based on its closing price of $1.35 per share on March 25, 2019, the annual dividend provided a yield of 3.7% per annum.Results for Q4 2018 saw revenues increase by 45.6% to $4,987,090 when compared with results from the same period last year, when total revenues were $3,425,394. The net after tax profit increased 79.2% to $1,358,665 compared with the same period last year when the after-tax profit was $758,017. This was C-COM's largest single quarter in terms of sales since 2011.\"The company has delivered impressive financial results in 2018. We have significantly increased our sales and profits, generated incremental business from new product development, and added a significant number of new resellers to our worldwide distribution network, all of which contributed to our fiscal success in 2018,\" said Leslie Klein, President & CEO of C-COM.\"The development of our new line of cost-effective, highly portable, carbon fibre Manpack (backpack) antennas is now production ready. A total of 3 different antenna sizes with swappable multiple frequency band options are available and can be ordered in manual or fully automatic versions,\" Klein continued. We expect this new line of Manpack antennas to be deployed in verticals like military, disaster management, emergency response, and other markets requiring a ligh...