Revenues decrease by 10.4% to $2,611,986;
Operating Profit increases 64.8% to $395,287;
Net Income increases to $283,659 from a loss of $76,113
OTTAWA, May 18, 2012 /CNW/ - C-COM Satellite Systems Inc. (TSXV: CMI) the leading global provider of mobile auto-deploying satellite antenna systems, today announced financial results for its first quarter ending February 29, 2012.Revenues have decreased by 10.4% to $2,611,986 compared with results from the same period last year, when total revenues were $2,914,334. The company is reporting a net income of $283,659, or 1.1 cent per share, compared with results for the same period last year when there was a net loss of $76,113, or 0.2 cent per share. The operating profit increased to $395,287, compared with the same period last year when the operating profit was $239,904. The working capital of the company increased by 55.6% to $13,583,663 at February 29, 2012 compared to $8,729,757 at February 28, 2011. "The company's first quarter sales are traditionally slow, and compared to last year we are seeing a slowdown of orders from Japan, Malaysia, the United States and Russia. On the positive side we are seeing increased order activity from Canada and Oman. We continue to remain free of long term debt with a significant cash position" said Leslie Klein, President and CEO of C-COM Satellite Systems Inc. The C-COM iNetVu ® Mobile proprietary antennas, and services associated with these products are used in mobile applications by corporations, government agencies, the military, law enforcement agencies, homeland security, utility vehicles, oil and gas platforms, police, fire, medical and other security and emergency services with a need for affordable mobile 2-way high-speed Internet over Satellite connectivity. About C-COM Satellite Systems Inc. C-COM Satellite Systems Inc. is a leader in the development and deployment of commercial grade mobile satellite-based technology for the delivery of two-way high-speed Internet, VoIP and Video services into vehicles. C-COM has developed a unique proprietary Mobile auto-deploying (iNetVu ®) antenna that allows the delivery of high-speed satellite based Internet services into vehicles while stationary virtually anywhere where one can drive. The iNetVu ® Mobile antennas have also been adapted to be airline checkable and easily transportable. The company's satellite-based products and services deliver high-quality, cost-effective solutions for both fixed and mobile applications throughout the world. More information is available at: www.c-comsat.com iNetVu ® is a registered trademark of C-COM Satellite Systems Inc. ### Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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