A few weeks before it reports its third-quarter earnings, Ottawa’s C-Com Satellite Systems (TSX-V:CMI) says its received US$1.28 million worth of antenna orders from several African resellers.
The local firm, which sells mobile satellite antennas that allow customers to access a broadband internet connection from remote locations, said this week that its latest orders will be used by government, military, banking and broadcast customers.
In Africa, C-Com says its technology has been used for mobile banking, wildlife protection, election polls, telemedicine and a “tax office on wheels,” among other applications.
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“While C-Com has been active in Africa for a number of years, the mobile (satellite internet) market has been slow to develop for economic reasons,” said Drew Klein, C-Com’s director of business development, in a statement. “These significant orders, from both new and existing C-Com’s Africa-based integrators, are an indication that market conditions in the region may be improving.”
In July, the local firm reported second-quarter revenues of $2.7 million and an after-tax profit of $282,044 – its 29th consecutive profitable quarter.
Its stock price was flat on Tuesday at $1.04 per share.
