EMS Posts Record Satellite Sales For Fourth Quarter 2007
[Satellite Today – 2-28-08] EMS Technologies Inc.’s satellite communications business reported 37 percent revenue growth for the quarter as well as a 37 percent increase in net sales, the company announced Feb. 28.
EMS reported $25.7 million in sales for the satellite communications segment, and $14.9 million for the defense and space systems segment for the quarter ending Dec. 31, compared to $18.7 million and $15.4 million for the 2006 fourth quarter. For the year, the satellite communications segment had $90 million in sales, a 27 percent increase from $70.7 million in 2006, while defense and space systems posted a
13 percent increase from $52.4 million in 2006 to $59.1 in 2007.
Overall, EMS posted $7.1 million in earnings for the fourth quarter 2007, down from $25.5 million for the fourth quarter of 2006. During 2007, EMS sold its wireless division to Andrew Corp., which accounted for most of the decline.
“In the fourth quarter, sales in the satellite communications business reached an all-time high, and its operating income for the period doubled in 2007 versus 2006,” Paul Domorski, EMS president and CEO, said in a statement. “In addition, operating income for the period in the defense and space segment also doubled in 2007 versus 2006, and it reported a record backlog for the fifth consecutive quarter.”