The Company serves global customers primarily through three business units: Sinclair Technologies, Satellite Solutions and Microwave Products. All financial results are reported in U.S. dollars and have been prepared in accordance with International Financial Reporting Standards (“IFRS”), unless otherwise stated.
(1) EBITDA is a Non-IFRS Measure that is defined in the 2011 Annual Management’s Discussion and Analysis posted on Norsat’s website and SEDAR.

Q1 2012 Highlights

• First quarter revenue, gross profit, EBITDA and net earnings were all up over the same period in 2011
• The Norsat Power Solutions division was launched to provide turnkey project-specific power conversion and energy storage solutions in the communications, transportation and resource sectors
• Mr. Ivan Gissing was appointed General Manager of both the Sinclair Division and the new Norsat Power Solutions division

“Our 2012 year is off to an excellent start with a full three months of strong performance from our Sinclair Division and gains in our Microwave Products business helping to drive improved first quarter results,” said Dr. Amiee Chan, Norsat’s President and CEO. “Revenue increased 21% to $10.5 million and EBITDA improved by 6% to $1.119 million, compared to the same period last year. This represents our 22nd straight quarter of positive EBITDA.”

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