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Globecomm Earnings Nearly Double In 2007 Second Quarter
Globecomm Systems Inc. reported recorded revenues of $36.7 million in its 2007 second quarter, up from $29.9 million in the same period a year ago, the company announced Feb. 7.
Net income jumped from $900,000 a year ago to $1.8 million in the most recent period, which closed Dec. 31. Globecomm attributed the revenue gains to government demand.
Revenues from ground segment systems, networks and enterprise solutions increased 25 percent to $28.4 million due to government work, while revenues from data communications services increased 15 percent to $8.4 million revenue due to life-cycle support services in the government marketplace. Overall, revenues in the government marketplace as a percentage of total revenues increased to 62 percent in the 2007 second quarter, compared to 56 percent a year ago.
Globecomm continues to expect record revenues of more than $145 million in 2007, an increase of 15 percent from 2006.
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