View of C-COM warehouse. Photo: C-COM

[Via Satellite 04-18-2014] C-COM Satellite Systems announced its financial results for the first quarter. Revenues for the quarter ending on Feb. 28, 2014, were approximately $2.4 million, and the company generated an after tax profit of $451, 396, or one cent per share.

This profit marks a 39.5 and 50.3 percent decrease from last year for revenues and net after tax profit, respectively. The working capital of the company increased to $18.3 million, up 14.7 percent.

“While this year’s results are lower than last year’s the first quarter of 2013 was the best first quarter in the company’s history, and historically the first quarter of our fiscal year is slow,” said Leslie Klein, president and CEO of C-COM Satellite Systems. “The continued profitability during the first quarter of 2014 is largely attributable to the worldwide acceptance of our iNetVu Mobile auto-deploying antenna systems, particularly to the telecom, military as well as to the oil and gas exploration sectors worldwide.”