...three-month period ended January 31, 2013. All amounts are stated in Canadian dollars unless otherwise noted.

First Quarter Highlights

• Revenue was $52.3 million, a 10.7 percent increase from $47.2 million in the first quarter of 2012.
• Net income attributable to shareholders was $4.6 million or $0.06 per share, compared to $3.6 million or $0.05 per share in the first quarter of 2012.
• The Company booked $61.8 million in new orders, compared to $45.2 million in the first quarter of 2012 and $56.1 million in the fourth quarter of 2012.
• Increased gross margins in the space equipment business of 28.4 percent compared to 27.8 percent in Q1 2012
• Increase in exactEarth customer base to 62 from 16 in Q1 2012. There are also 64 trials currently underway.

"We are very pleased with the growth in earnings and gross margins in the first quarter of fiscal 2013, which reflects the results of our focus on profitability and sustainability without any legacy issues," stated Michael Pley, President and CEO. "As well, we have secured new contracts in all of our divisions which will contribute to continued growth."

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