Business
C-COM Reports 15th Consecutive Profitable Year and Q4 Results
Revenues increase by 3.3% to $13,977,909; Operating Profit increases 23.8% to $3,614,28...
About this update from C-com Satellite Systems Inc.
[{"type":"text","content":"C-COM Reports 15th Consecutive Profitable Year and Q4 ResultsRevenues increase by 3.3% to $13,977,909;Operating Profit increases 23.8% to $3,614,282;Net Profit increases 23.6% to $2,843,092 or 8 cents per share;Ottawa, Ontario--(Newsfile Corp. - March 16, 2020) - C-COM Satellite Systems Inc. (TSXV: CMI) (OTC: CYSNF), a leading global provider of mobile auto-deploying satellite antenna systems, announced today financial results for the fiscal year ended November 30, 2019.The Company has generated revenues of $13,977,909 and a net after tax profit of $2,843,092 or 8 cents per share. This compared with 2018 total revenues of $13,527,368 and a net after tax profit of $2,299,501 or 6 cents per share, representing an increase of 3.3% and 23.6% respectively. The working capital of the Company has increased by 8.8% to $22,383,369 at November 30, 2019 as compared to $20,580,939 at November 30, 2018. The Company paid out $1,882,033 in quarterly dividends during fiscal 2019 compared to $1,851,878 in fiscal 2018, representing a 1.6% increase. Based on its closing price of $1.89 per share on March 13, 2020, the quarterly dividend provided a yield of 2.65% per annum.Results for Q4 2019 saw revenues increase by 40.6% to $7,009,616 when compared with results from the same period last year, when total revenues were $4,987,090. The net after tax profit increased 83.8% to $2,497,636 compared with the same period last year when the after-tax profit was $1,358,665.\"The company delivered better sales and higher profitability in fiscal year 2019 than the previous year. In 2019 we finished the development of our new Manpack series antenna systems and saw the first large order for over 100 units delivered to our reseller in Japan for cellular backhaul use. Our new Manpack series antennas are generating very strong interest from new markets segments around the world. These small, one-case, one man back-pack like antennas are designed to be carried by a single person and assembled in about eight minutes without the use of tools.\" said Leslie Klein, President & CEO of C-COM.\"C-COM's flagship iNetVu® mobile antenna line also continues to gain worldwide acceptance and are operating reliably from the most Northern areas of Canada and Russia to the deserts of Australia and Saudi Arabia.\" Klein continued.Klein added: \"A new vertical market for tra...