In a market starving for favourable news, Ottawa-based C-COM Satellite Systems Inc. (TSX-Venture: CMI) obliged Monday by bringing out financial results for the fiscal year ended November 30, 2019.
C-COM, a leading global provider of mobile auto-deploying satellite antenna systems. generated revenues of $13,977,909 and a net after tax profit of $2,843,092 or eight cents per share.
This compared with 2018 total revenues of $13,527,368 and a net after tax profit of $2,299,501 or six cents per share, representing an increase of 3.3% and 23.6% respectively.
Results for Q4 2019 saw revenues increase by 40.6% to $7,009,616 when compared with results from the same period last year, when total revenues were $4,987,090. The net after tax profit increased 83.8% to $2,497,636 compared with the same period last year when the after-tax profit was $1,358,665.
Shares in C-COM moved higher by eight cents, or 4.2%, to $1.97, on volume topping 50,000 shares.
