SSPA from Norsat Atom Series. Photo: Norsat

[Via Satellite 03-04-2016] Norsat International’s revenue for 2015 was $36.1 million, essentially flat compared to 2014 revenue of $36.2 million, the company announced March 4. The company’s gross profit margin grew slightly, up 41 percent for the year, compared to 40 percent for 2014.

Norsat repaid its remaining bank debt during the second quarter in 2015. Bank debt at December 31, 2014 was $2.4 million.
The company ended this past year with $19.4 million in working capital, compared to $13.8 million at Dec. 31, 2014.

Norsat reported a 12 percent increase in adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), reaching $5.3 million for the year. Deferred income tax recovery for the year was $3.8 million, compared to $300,000 for 2014.

“Fiscal 2015 demonstrated continued solid operating results as we continued to work through the sizable backlog of orders booked earlier in the year.” said Amiee Chan, president and CEO of Norsat. “We have been experiencing increased demand for components including our successful and expanding Atom product line and solutions supplied to militaries around the globe which is driving improvements in our satellite communications segment.

For Norsat’s fourth quarter results, the company reported $9.5 million in revenue, up $100,000 year over year.