Ottawa-based C-COM Satellite Systems still managed to turn a profit despite their revenue continuing to drop during the second quarter of its fiscal year.
The satellite antenna systems maker reports a revenue of $1.8 million during the three-month period that ended May 31. That’s down from $3.1 million during the same period last year and from $2.4 million during the previous quarter.
Net after-tax profit was $15,811, down from $313,201 during the same period the year before. C-COM has now reported profits for 21 consecutive quarter.
OBJ360 (Sponsored)
Give your home a stunning makeover—for 30 to 40 per cent less cost—with NorthCo Services
In the home renovation industry, companies don’t often see repeat clientele—but Ottawa’s NorthCo Services is a rare exception. “We have an upcoming project which will be the third one for
Don’t get left behind: Keep pace with the job market by AI upskilling at uOttawa
uOttawa’s Paula Branco was a math teacher in Portugal for more than a decade before deciding to boost her career by going back to school. “I’m one of those people
“C-COM continues to persevere in the face of strong global macroeconomic headwinds,” Leslie Klein, the company’s president and CEO said in a release. “The quarter was disappointing, but the numbers reflect some delays in orders that have already been booked into Q3. Weakness in North America, Europe and Latin America, as each of the regions face their own dilemmas, weighed on sales.”
C-COM has issued a quarterly dividend of $0.0125 a share and had a working capital of over $19.9 million at the end of May.
“The company remains in a very strong financial position and we continue to push resources towards R&D for our extremely innovative, and potentially game changing, future antenna design. We remain very excited about both the short and long term prospects of our business, and the marketplace in general,” Mr. Klein said.
