[Satellite TODAY 11-09-09] Norsat revenues increased for the fifth consecutive financial period, reporting revenues of $5.1 million in the 2009 third quarter, according to results released Nov. 5. Revenues in the 2008 third quarter were $4.9 million.
    Company revenues for the first nine months of 2009 increased to $15 million, compared to $11.8 million during the same period last year, with cash on hand at $7.2 million at the end of September, up from $5 million at the end of June. Norsat also doubled its operating credit line during the quarter from $400,000 to $800,000.
    While its microwave and satellite business units were the company’s strongest performers, the company said it now will focus on building its new maritime, wireless network and Norsat Capital businesses. 
    “We made several inroads for our products with other non-U.S. military [customers] as well as with orders from customers in India and China for broadcasting purposes and Italy for maritime communications. This type of product and geographic diversification will continue to be one of our key ingredients to maintaining our organic growth. At this time, we anticipate finishing the year at the lower end of our year-on-year revenue growth expectations of 15 percent to 20 percent.” Norsat President and CEO Amiee Chan said in a statement.