NSI Global [Toronto: NGL], a Montreal-based supplier of satellite-based communication systems, reported that revenues from continuing operations were C$4.2 million (US$3.1 million) for the first quarter, down from C$13.8 million (US$10.1 million) in the corresponding period of 2002.

The company reported a net loss of $C2.2 million (US$1.6 million) in the quarter, down from C$5.4 million (US$3.95 million) in 2002. Commenting on the results, President and CEO David Ben-David said, “We are confident that we will be profitable, with revenues of between C$7 million (US$5.85 million) and C$8 million (US$5.12 million), in the second quarter.”