[Satellite TODAY Insider 10-22-12] Foreign currency fluctuations negatively affected Canadian antenna manufacturer C-Com Satellite Systems<\/b>\u2019 profitability in its third fiscal quarter of 2012 as the Canadian dollar strengthened in relation to the U.S. dollar. According to C-Com\u2019s latest financial results issued Oct. 22, the company\u2019s third quarter revenues declined 45.8 percent to $2.46 million compared to $4.54 million during the same period last year.<\/p>\n
C-Com\u2019s net profits also fell from $812,561 \u2013 or 2.4 cents per share \u2013 last year to $65,625 in the 2012 third quarter. The company\u2019s operating profit decreased from $1.11 million in the 2011 third quarter to $285,033 in its most recent quarter.
\n C-Com President and CEO Leslie Klein noted that the company\u2019s working capital, however, increased 17.8 percent to $13.5 million at the end of August 2012, compared to just $11.52 million at the end of August 2011.
\n \u201cOur year-to-date revenues declined due to a one time order that shipped to India and Japan in the third quarter of 2011,\u201d Klein said in a statement. \u201cThe profitability was also negatively affected by foreign currency effects as the Canadian dollar strengthened in relation to the United States dollar. In addition, a number of large orders that were expected in the third quarter arrived late and were booked into the fourth quarter for delivery before the end of the fiscal year.\u201d
\n C-Com\u2019s working capital in the previous quarter was $14.2 million \u2014 a 37.3 percent increase from the same period last year. During that quarter, the company\u2019s net profits slipped from $1.27 million in the second quarter of 2011 to $542,25, with revenues decreasing 47.5 percent and operating profits falling year-over-year from $1.749 million to $603,814.
\n C-Com also announced an eligible dividend in the amount of $0.0075 per-common-share that will be payable Nov. 16 to all shareholders of record as of Nov. 2, 2012. Based on C-Com\u2019s closing price of $0.67 per share on Oct. 19, 2012, the dividend would provide a yield of 4.5 percent on an annualized basis.
\n \u201cWe are pleased that we can continue to be able to reward our loyal shareholders with this quarterly dividend,\u201d said Klein.<\/p>\n","protected":false},"excerpt":{"rendered":"
[Satellite TODAY Insider 10-22-12] Foreign currency fluctuations negatively affected Canadian antenna manufacturer C-Com Satellite Systems\u2019 profitability in its third fiscal quarter of 2012 as the Canadian dollar strengthened in relation to the U.S. dollar. According to C-Com\u2019s latest financial results issued Oct. 22, the company\u2019s third quarter revenues declined 45.8 percent to $2.46 million compared […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-82270","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/82270"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=82270"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/82270\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=82270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=82270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=82270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}