Norsat Posts 13 Percent Revenue Increase for Q4 2016

Norsat International has announced financial results for the fourth quarter and fiscal year ended Dec. 31, 2016. For the fourth quarter, the company reported $10.7 million revenue, an increase of 13 percent compared to $9.5 million for the same period last year. Gross profit margin was 44 percent, an increase of 3 percent. Net loss for the quarter was $0.04 per share, and adjusted Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) were $2.2 million, an increase of 52 percent for the same period last year.

For the full year period, the company reported $38 million in revenue, an increase of 5 percent compared to 2015. Gross profit margin was 45 percent, an increase of 4 percent. Net earnings were $0.57 per share compared to $1.50 per share for 2015, with a 44 percent increase of adjusted EBITDA to $7.6 million.