C-Com reports profit in 2014 Q2

Ottawa-based C-Com Satellite Systems Inc. generated $3,754,738 in revenue in the second quarter of its 2014 fiscal year, the company announced late Monday.

C-Com’s net after tax profit for the quarter was $782,188 or two cents per share.

Revenue was down 21.9 per cent from the second quarter of last year, and profit was down 19.1 per cent, but company president and CEO, Leslie Klein, was unphased by the numbers, noting this was the company’s 40th profitable quarter in the last 41 quarters.

“Historically this quarter of our fiscal year is slow,” said Mr. Klein in a statement. “The second quarter of fiscal 2013 was the Company's second largest in the company's history.”

Mr. Klein said revenue was up $1.4 million over the first quarter of the year.

“The continued profitability during the second quarter of 2014 is largely attributable to repeat orders from our large base of loyal customers worldwide", he said. “We are signing up new resellers and opening new vertical markets with our next generation products which are contributing to this revenue growth.”

Working capital at C-Com was $19,149,209 at the end of May, up 12.8 per cent from one year ago.