C-COM Satellite Systems Inc. (TSXV:CMI) posted year-over-year growth in both its revenues and profits during its most recent third quarter, the local satellite antenna systems supplier announced.
C-COM's Leslie Klein. (Provided)
The company had a profit of $353,978 during that time, up from $65,625 in the same period a year ago.
Revenues increased to $3,073.720 during the three-month period, which ended on Aug. 31. That’s a 25 per cent increase over the $2,463,351 the firm brought in during the previous third quarter.
"We are pleased with the third quarter results, which reaffirm strong customer support across our entire product line,” said Leslie Klein, C-COM’s president and CEO, in a statement.
He said the company is one of the first mobile antenna manufacturers that started delivering next generation products, its iNetVu Ka-band mobile antennas, to customers in the United States, Europe, the Middle East and Africa.
C-COM also increased the amount of money it has to work. It posted working capital of $17,271,614 for the third quarter, up from $13,577,437 the previous year.
"The company continues to be free of long term debt with a significant cash position," said Mr. Klein.