C-COM posted $13.4 million in revenues and a net profit of $2.7 million during its most recent quarter – a year-over-year decline of 30.1 per cent and 29.4 per cent respectively.
The satellite antenna systems manufacturer attributed the decrease to spike recorded the previous year from a one-time sale for tsunami relief in Japan. It was the largest order in the company’s history, and worth approximately $4 million.
C-COM’s working capital has increased by 15.5 per cent compared to the same period the year previous, to $15.3 million as of Nov. 30 2012 when the quarter ended. That increase comes despite distributing $507,000 in dividends and $693,000 in repurchased shares, and has led the company to increase its quarterly dividend by a third to $0.01 per common share per quarter.
"The continued profitability during fiscal year 2012 (is) largely attributable to the worldwide acceptance of our iNetVu Mobile auto-deploying antenna systems, particularly to the telecom, military as well as to the oil and gas exploration sectors worldwide,” stated C-COM president and CEO Leslie Klein.
“Our customer base for these products has been steadily increasing and continues to significantly contribute to our revenue growth.”
The company plans to continue developing new products for international markets, and to keep establishing partnerships with companies around the world. One such deal, announced last September, is with Germany’s Romantis Group for mobile solutions using C-COM’s antennas and Romantis’ satellite Internet technology. The aim of the multi-million dollar deal is to use the technology for emergency communications networks.
In December, C-COM said it had signed orders totalling $1.7 million in its first fiscal quarter from Russia, Japan and China.