[SatNews] Globecomm Systems Inc. (NASDAQ:GCOM) has announced financial results for the fiscal 2011 third quarter and nine months ended March 31, 2011.

Globecomm is reporting its financial results on a generally accepted accounting principles (GAAP) basis as well as adjusted EBITDA and adjusted diluted net income per common share, both non-GAAP financial measures, for which the Company provides detailed reconciliations on the attached tables. The following are highlights: Service revenues for the quarter increased 35.1 percent to $46.0 million as compared to $34.0 million in the same period last year. For the nine months ended March 31, 2011, service revenue increased 41.5 percent to a record $136.2 million as compared to $96.2 million in the same period last year. Consolidated revenues for the quarter increased 18.3 percent to $62.5 million as compared to $52.8 million in the same period last year. GAAP earnings per diluted share for the quarter increased 133 percent to $0.14 as compared to $0.06 in the same period last year. Adjusted diluted net income per common share increased 89 percent to $0.17 as compared to $0.09 in the same period last year. Adjusted EBITDA for the quarter increased 66.9 percent to a record $9.2 million as compared to $5.5 million in the same period last year. To read the entire financial report, access this direct infolink.