Q3 2008 Summary...
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Satnews Daily
December 9th, 2008
Financially Speaking... Norsat International Inc...
Norsat International Inc. (“Norsat”) (TSX: NII and OTC BB: NSATF) has announced the Company's financial results for the three- and nine-month periods ended September 30, 2008. All financial results are in U.S. dollars unless otherwise stated.
Q3 2008 Summary...Revenue increased to $4.9 million from $3.8 million in Q3 2007
Gross margin was 48 percent, compared to 50% in Q3 2007
Net earnings increased to $0.7 million or $0.01 per share, from net earnings of $0.2 million, or $0.00 per share in Q3 2007
Won a $5.5 million U.S. Department of Defense satellite systems contract
Launched first product in vehicle mount satellite terminal family and received orders from the U.S. military and an Asian broadcasting network
Awarded $5.97 million repayable investment through the Canadian Government’s Strategic Aerospace and Defence Initiative (SADI)
Established an Italian subsidiary to pursue European maritime satellite systems opportunities
Entered into a strategic partnership with Navisystem Marine Electronics S.R.L.
Subsequent to quarter end, established a WiMAX business unit to pursue satellite-enabled WiMAX opportunities in Asia, Africa and South America
Subsequent to quarter end, realized $219,375 in proceeds resulting from the exercise of warrants granted through the company’s Employee Share Purchase Plan
Select this direct link to read the entire report....
Q3 2008 Summary...
Select this direct link to read the entire report....