C-Com Expects iNetVu Ka-band Business to Offset Second Quarter Setbacks
By Jeffrey Hill | July 25, 2012
[Satellite TODAY 07-25-12] C-Com Satellite Systems increased its working capital to $14.2 million in the 2012 second-quarter — a 37.3 percent increase from the same period last year, according to the Canadian antenna manufacturer’s latest financial results issued July 24.
The company’s net profits, however, slipped from $1.27 million in the second quarter of 2011 to $542,251 in its most recent quarter, with revenues decreasing 47.5 percent and operating profits falling year-over-year from $1.749 million to $603,814.
C-Com President and CEO Leslie Klein attributed his company’s lower revenues and operation profits to a single large order C-Com received last year in Japan to aid in the country’s tsunami relief efforts. Without the order, Klein said C-Com’s 2012 second-quarter revenue growth would have been 39.5 percent compared with the same period last year.
“We are continuing to sign-up new resellers for our products and expanding our worldwide presence,” Klein said in a statement. “C-Com is one of the first mobile antenna manufacturers that started delivering its next-generation iNetVu Ka-band mobile products to customers in the U.S., Europe, the Middle East and Africa. We expect to become market leaders in this sector and should significantly benefit from this advanced satellite technology that is being rolled out worldwide by a number of large satellite operators.”