C-COM Reports 11th Consecutive Profitable Year

Ottawa, Canada, March 15, 2016 – C-COM Satellite Systems Inc. (TSXV: CMI), a leading global provider of mobile auto-deploying satellite antenna systems, announced today financial results for the fiscal year ended November 30, 2015 posting its 11th consecutive profitable year.

The company has generated revenues of $10,374,748 and a net after tax profit of $1,596,680 or 4 cents per share. This compared with revenues of $13,205,778 and a net after tax profit of $2,805,033 or 8 cents per share as reported in 2014, representing a decrease of 21.4% and 43.1% respectively.

The working capital of the company has increased by 0.8% to $20,231,895 at November 30, 2015 as compared to $20,063,450 at November 30, 2014. The company paid out $1,806,477 in dividends during fiscal 2015 compared to $1,792,752 in fiscal 2014 representing a 0.8% increase. Based on its closing price of $0.96 per share on March 11, 2016, the annual dividend provided a yield of 5.21% per annum.

Results for Q4 saw revenues decrease by 45% to $2,272,798 when compared with results from the same period last year, when total revenues were $4,137,945. The net after tax profit decreased 63.9% to $419,245 compared with the same period last year when the after tax profit was $1,160,949.

“The company has delivered positive results under the current challenging and adverse global economic conditions, which have affected many of its international customers,” said Leslie Klein, President & CEO of C-COM.  “A worldwide economic slowdown, unforeseen political turmoil in key regions, severe exchange rate fluctuations, and a sharp fall in oil prices, all have forced some of C-COM’s larger customers to delay projects and postpone purchases resulting in lower than expected sales,” Klein continued.

Nevertheless, the future appears bright for the company. “Our SATCOM-on-the-MOVE antennas are generating worldwide interest and will open up new markets which will contribute incremental revenues for the Company. In addition, SATCOM-on-the-PAUSE products for use on both new and existing high-throughput satellites around the world, is expected to remain the cornerstone of the business,” Klein continued.

Despite these adverse economic conditions, the Company has maintained its dividend payout and increased its working capital from the previous year, all while continuing to innovate and prepare for the next generation of mobile antennas.

C-COM continues to develop new products for new markets and is expanding its worldwide reseller network for its proprietary iNetVu®Mobile antenna systems. It also continues to establish new partnerships with corporations around the world interested in combining the capabilities of the iNetVu® antennas with the products and services they offer. The Company is also developing leading edge patentable technologies for the on-the move satellite market and is involved in a research and development project with a leading Canadian university to develop the next generation low profile electronically steerable antenna technology.

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