[Satellite Today 12-08-08] Norsat International Inc. reported increased revenues in its 2008 third quarter 2008 of $4.9 million, up from $3.8 million in 2007, Norsat announced Dec. 6. Net earnings increased to $700,000, up from $200,000 in 2007.
    The company attributed the growth to a $5.5 million U.S. Department of Defense satellite systems contract, a $6 million repayable investment through the Canadian government’s Strategic Aerospace and Defense Initiative (SADI), and the launch of Norsat’s first product in its vehicle mount satellite terminal family, receiving orders from the U.S. military and an Asian broadcasting network
    “We expect our growth momentum to continue. While we recognize the challenges the current economic environment presents, we believe the sizable contract wins we have already announced, in combination with our healthy sales pipeline, will lead to further top-line growth. We expect [the fourth quarter of 2008] to be our strongest quarter of the year from both a revenue and profitability standpoint,” Amiee Chan, president and CEO of Norsat, said in a statement.