A C-Com iNetVu antenna. Photo: C-Com

[Via Satellite 03-17-2016] C-Com Satellite Systems reported revenues of $10.4 million for the fiscal year ended Nov. 30, 2015, down 21.4 percent from $13.2 million in 2014. Results for Q4 saw revenues decrease by 45 percent to $2.3 million when compared with results from the same period last year, when total revenues were approximately $4.1 million.

C-Com attributed the decline in revenues largely to adverse economic conditions. The company has remained profitable, maintaining dividend payout and increasing working capital from the previous year, along with continuing to develop next generation mobile antennas.

“The company has delivered positive results under the current challenging and adverse global economic conditions, which have affected many of its international customers,” said Leslie Klein, president and CEO of C-Com. “A worldwide economic slowdown, unforeseen political turmoil in key regions, severe exchange rate fluctuations, and a sharp fall in oil prices, all have forced some of C-Com’s larger customers to delay projects and postpone purchases resulting in lower than expected sales … our satcom-on-the-move antennas are generating worldwide interest and will open up new markets which will contribute incremental revenues for the company. In addition, satcom-on-the-pause products for use on both new and existing High-Throughput Satellites (HTS) around the world, is expected to remain the cornerstone of the business.”