Thanks to a 30-per cent increase in net income, Ottawa’s C-Com Satellite Systems (TSX-V:CMI) is reporting its ninth profitable year in a row.
The satellite antenna seller reported revenue of $15.6 million during its 2013 fiscal year, which ended on Nov. 30. That’s a 16.4-per cent increase from last year, when it reported revenue of $13.4 million.
That revenue led to net income of $3.5 million, a 30-per cent increase from last year when the company reported profits of $2.7 million.
The company credited the successful year to the popularity of its auto-deploying antenna systems in the oil and gas, telecom and military sectors.
“We are also starting to see incremental growth from the success of our new generation Ka-band products,” said Leslie Klein, the company’s president and CEO, in a press release.
“These products are expected to deliver increasing revenues to the company as more and more Ka-band satellites are launched around the world.”